USDC stablecoin issuer Circle Internet Group made a powerful and successful public stock debut. The listing is seen as a key step for integrating stablecoins into the global financial system.

Circle Internet stock price surged on its first trading day as a publicly traded company. CIRCL shares jumped to a high of $83, transforming it into a $18 billion company and one of the best initial public offerings (IPO) this year.

Circle's stock (CRCL) is still gaining on Friday after it exploded higher in its first day of trading, rising as much as 200% in Thursday's session after the stablecoin issuer's long-anticipated public market debut.