Stablecoin issuer Circle Internet's shares more than doubled in their debut on the New York Stock Exchange on Thursday, firing up the IPO market that has struggled to regain momentum.

Circle stock (CRCL) exploded higher in its first day of trading on Thursday, rising as much as 200% at session highs after the stablecoin issuer made its long-anticipated public market debut. At market close,

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.