Recently, Circle's stock (CRCL) experienced a significant surge, rising over 10% as its USDC stablecoin and cross-chain transfer protocol expanded to World Chain. This blockchain was co-founded by OpenAI CEO Sam Altman.
The integration included an automatic upgrade of all bridged USDC tokens on World Chain to the newly launched native USDC. This expansion places USDC, the second-largest stablecoin, on 21 different blockchains.
Circle's stock is currently trading above $116, nearly four times its initial IPO price of $31. The stock reached as high as $138.57 on Monday. The IPO, which raised $1.1 billion, marks a significant milestone for the company.
The debut of CRCL exceeded the initial performance of major publicly traded tech companies. The company is now valued at approximately $28.34 billion. Gemini, a New York-based exchange, is also planning its own IPO.