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

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

The U.S.-based issuer of one of the most popular cryptocurrencies made its debut on the New York Stock Exchange on Thursday and quickly saw its value soar amid heavy interest from crypto enthusiasts a