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’s most recent filing with the Securities and Exchange Commission (SEC) showed plans to sell 32 million shares at a range between $27 and $28 apiece. At the high end of that range, the IPO would value the company at roughly $7.2 billion on a fully diluted basis.

BlackRock Inc. plans to acquire about 10% of the shares offered in Circle Internet Group Inc.’s initial public offering, according to people familiar with the matter, as the worlds of traditional finance and cryptocurrency continue to deepen their ties.