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.

(Reuters) -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 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.