(Reuters) -Circle Internet's shares were set for a strong debut on the New York Stock Exchange on Thursday, a move expected to boost an IPO market that has struggled to regain momentum. The stock was last indicated to trade between $60 and $61 at debut compared with its IPO price of $31.

Stablecoin firm Circle Internet Group is set to go public later Thursday after pricing its initial public offering above the expected range amid strong interest from investors.

Circle, the company behind the $61 billion stablecoin USDC, made a roaring debut on the New York Stock Exchange Thursday, becoming the first stablecoin issuer to go public and making CEO and cofounder Jeremy Allaire a billionaire.

The cryptocurrency company's stock opened for trading on the NYSE at $69 apiece, valuing the stablecoin issuer at nearly $18 billion.