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.

Stablecoin issuer Circle Internet's shares climbed 48% on Friday, extending a stellar run after a blowout market debut on the New York Stock Exchange a day earlier.