Circle Internet Group Inc. and some of its shareholders raised nearly $1.1 billion in an upsized initial public offering, according to a person familiar with the matter, pricing its shares above a marketed range in a sign that stablecoin issuers are winning greater acceptance.

Circle Internet Group (CRCL) and some of its backers pulled in $1.1B in an upsized initial public offering as the stablecoin issuer priced its shares above the marketed range, according to a media report published on Wednesday.

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.