Circle Internet Group, the issuer of one of the world's biggest stablecoins, priced its initial public offering at $31 per share late Wednesday, above the expected range of $27-28 and giving the company a total market value of $6.

Circle Internet on Wednesday priced its upsized U.S. initial public offering at $31 apiece raising $1.05 billion, adding fresh momentum to a growing pipeline of late-stage cryptocurrency firms eyeing public markets.

Circle Internet Group Inc. and some of its shareholders raised nearly $1.1 billion in an upsized initial public offering, according to a person familiar with the matter, pricing its shares above a marketed range in a sign that stablecoin issuers are winning greater acceptance.