Circle, the issuer of one of the biggest stablecoins, priced its IPO at $31per share, above its expected range and giving it a market value of $6.8 billion.

Circle priced its initial public offering (IPO) on Wednesday at $31 per share, above the expected range of $24 to $26. The company sold around 34 million shares in the offering for a valuation of $1.1 billion.

The firm and backers including co-founder and Chief Executive Officer Jeremy Allaire sold 34 million shares Wednesday for $31 each, according to a statement confirming an earlier Bloomberg News report.