Circle stock closes Wednesday with gains exceeding 10% as the stablecoin issuer announces its USDC token would launch natively on World Chain

The blockchain project is co-founded by OpenAI CEO Sam Altman and focuses on human verification technology.

Stablecoin issuer Circle's stock closed Wednesday's session with gains exceeding 10%, marking a remarkable start for the company's public trading. The gains come as Circle's USDC token launched natively on World Chain, a blockchain project co-founded by OpenAI CEO Sam Altman that focuses on human verification technology.

At the beginning of the week, Cathie Wood's Ark Invest purchased $373 million worth of Circle shares on the debut day of trading for the stablecoin issuer. The investment has already seen a 40% gain in value.

The stock has now risen more than 250% since its initial public offering (IPO) last week. Circle priced its IPO at $31 per share and the stock is currently trading above $116.

The company's market valuation has reached approximately $28.34 billion. This represents nearly a four-fold increase from its IPO pricing.

From Circle's original IPO valuation of $8 billion, the USDC stablecoin firm has literally tripled its base valuation.

The company's stock hit an intraday high of $138.57 on Monday before pulling back. Trading was halted multiple times on the IPO debut day as shares surged more than 300% from the offering price.

The IPO raised $1.1 billion for Circle and early shareholders. The company had previously attempted to go public through a SPAC merger in 2022 but those plans fell through.

Circle originally sought to go public as early as 2022 but market conditions delayed those plans. The company's USDC stablecoin has maintained its dollar peg throughout various market cycles and regulatory developments.

Technical Integration Details

World Chain automatically upgraded all existing bridged USDC tokens to the new native version. Users and developers can continue operating without workflow disruptions since the smart contract address remains unchanged.

Circle's Cross-Chain Transfer Protocol V2 also launched on World Chain alongside native USDC. The protocol enables near-instantaneous transfers of USDC across supported blockchain networks.

The Cross-Chain Transfer Protocol V2 introduces a feature called Hooks. These programmable functions automatically trigger specific actions when funds arrive at their destination.

Following the integration, USDC is now operating natively on 21 different blockchain networks. The stablecoin ranks as the second-largest by market capitalization.

Circle highlighted that the upgrade will improve liquidity, security, and capital efficiency for World Chain ecosystem participants. The integration provides users with direct access to Circle's extensive on-ramp and off-ramp infrastructure.

Institutional Interest and Market Impact

Cathie Wood's Ark Invest purchased $373 million worth of Circle shares on the debut day of trading for the stablecoin issuer. The investment has already seen a 40% gain in value.

The stablecoin firm is attracting massive interest from retail and institutional players. Circle stock rally has been fueled by strong retail and institutional buying patterns.

The company's public market success has encouraged other crypto companies to pursue IPO plans. Trading platform eToro completed its public debut in May with positive results.

Crypto exchange Gemini recently filed confidential S-1 documents with the Securities and Exchange Commission for a proposed IPO. The New York-based exchange is operated by billionaire twins Cameron and Tyler Winklevoss.

Bitcoin rewards company Fold also went public earlier this year. However, neither Fold nor eToro experienced the same level of first-week gains as Circle stock.

CoreWeave, which provides computing power for crypto and AI companies, has also seen its stock price rise following its recent public listing.

Market observers note the current crypto IPO activity resembles the ICO enthusiasm of 2017. Some analysts predict Circle could evolve into a Treasury-focused firm similar to MicroStrategy's Bitcoin accumulation strategy. The company generates revenue by investing customer deposits backing USDC in short-term Treasury securities.

The World Chain integration represents Circle's continued expansion across blockchain ecosystems as demand for stablecoin infrastructure grows across decentralized finance applications.

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