- Circle (CRCL), issuer of the stablecoin USDC, debuts in New York with shares soaring by 230% -

Circle, issuer of the stablecoin $USDC began trading this Thursday (5) on the New York Stock Exchange (NYSE). Right on the first day, CRCL shares recorded a jump of more than 230% compared to the opening price.

The shares, priced at $31, surged to $103.75 at the peak of the trading session, but the momentum lost strength due to interruptions caused by volatility in the trading.

Moreover, the offering is expected to encourage other companies to launch shares on the exchange, according to analysts consulted by Reuters.

Founded in 2013 by Jeremy Allaire and Sean Neville, Circle issues the $USDC a cryptocurrency that is pegged to the US dollar and the second largest stablecoin in the world by market value, after Tether.

Source: MoneyTimes