Stablecoin issuer Circle started trading on the New York Stock Exchange at $75.90 per share, significantly higher than its initial public offering (IPO) price of $31. The stock, under the ticker symbol CRCL, experienced a trading halt due to volatility shortly after opening. CEO Jeremy Allaire highlighted the immense investor demand, referencing a shift in the financial system towards stablecoin money. The IPO was oversubscribed by 25 times, indicating strong market interest. Circle raised $1.1 billion from the sale of 34 million shares, increasing from an initial offering of 32 million shares. Allaire, who rang the opening bell, is set to ring the closing bell virtually from Circle's headquarters. Analysts suggest that institutions may see Circle as a stable investment opportunity within the Web3 ecosystem, despite potential challenges in attracting retail investors due to its lower volatility compared to crypto exchanges like Coinbase. This NYSE listing follows the public debuts of other digital asset companies on the Nasdaq, as investor interest in crypto continues to grow.

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