AsianFin -- Stablecoin issuer Circle surged 167.2% on its first day of trading in the U.S., marking a milestone as the first major stablecoin company to go public.

The stock opened at $69 on the New York Stock Exchange after its IPO priced at $31. It closed at $83.23. At one point, shares traded as high as $103.75.

The company priced its IPO at $31 per share, well above the earlier expected range of $27 to $28, pushing its pre-market valuation to around $6.8 billion. Circle raised nearly $1.1 billion through the offering.

The strong debut highlights renewed investor interest in crypto-linked assets, especially as regulatory clarity and political momentum grow around the digital asset space.