$USDC The IPO market is alive and well, and the best example of that is Circle Internet Group(NYSE: CRCL). It's one of the hottest new crypto stocks on the market. It began trading on the New York Stock Exchange earlier this month, and from an initial public offering price of $31, it soared to a value of $133.56 as of June 13.

It doesn't hold Bitcoins or other risky digital assets, and it instead gives you a supposedly more stable way to invest in the crypto world. Here's what you need to know about the latest new crypto stock, and whether it's worth adding it to your portfolio today.

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Unlike meme coins and risky, volatile assets, Circle Internet Group is an issuer of a stablecoin, USDC, which is pegged to the U.S. dollar. That means that by definition, it shouldn't experience a lot of volatility. Finding a stable investment while also investing in crypto is no easy task as often the big allure is to generate a huge profit from a fast-moving asset like Bitcoin. Circle Internet Group, however, could be a more enticing option for risk-averse investors.

The company recently launched the Circle Payments Network, which connects the USDC to eligible banks. By providing "near-instant settlement," it can help facilitate transactions all over the world. The company says that interest is growing. "We are seeing growth in start-up banks and neo-banks in many emerging markets focused on providing digital dollar payment and settlement services using USDC and the Circle stablecoin network," the company said in its IPO filing. By having more people use the network and its stablecoin, that can help Circle drive more growth for its business in the long run.#USDT