The cryptocurrency company, which offers fully backed digital money for rapid global payments around the clock, priced its IPO above the expected range.

Circle, the company behind the $61 billion stablecoin USDC, made a roaring debut on the New York Stock Exchange Thursday, becoming the first stablecoin issuer to go public and making CEO and cofounder Jeremy Allaire a billionaire.

Circle closed with an $18.4 billion valuation, well below Coinbase’s IPO but ahead of newer entrants like Fold and eToro.