Circle Internet is betting on wider use of its USDC digital currency, which is redeemable one-for-one with the U.S. dollar.

Circle started trading publicly on the New York Stock Exchange Thursday under the ticker CRCL, pricing its initial public offering at $31 per share. The company sold 34 million shares, raising $1.05 billion,

Circle’s stock price soared alongside its IPO, capturing Wall Street’s growing embrace of digital dollars for years to come, analysts say.