Daniel Walker
In a surprising twist within the stablecoin industry, Ripple reportedly offered between $4 billion and $5 billion to acquire Circle, the issuer of USD Coin (USDC). According to Bloomberg, the offer was rejected for being “too low,” although Ripple is said to still be interested in pursuing the deal.
The bid highlights Ripple’s ambitions to expand its footprint in the stablecoin ecosystem, where USDC remains a dominant force.
Circle Eyes IPO as Valuation Expectations Stay High
Just weeks ago, Circle filed an official prospectus for an initial public offering (IPO), signaling renewed momentum for going public. Back in 2022, the company had pursued a SPAC deal that valued it at around $9 billion, a figure that may have set the bar for Ripple’s failed bid.
With public listing plans back on track, Circle appears focused on independence rather than acquisition — at least for now.
USDC vs RLUSD: A Growing Stablecoin Rivalry
Circle’s USDC is currently the second-largest stablecoin globally, only trailing behind Tether’s USDT in total supply. The token plays a critical role in crypto payments, trading, and DeFi ecosystems.
Earlier this year, Ripple introduced its own U.S. dollar-pegged stablecoin called RLUSD, signaling a direct challenge to Circle’s market share. A potential acquisition of Circle would have instantly given Ripple a dominant position in the sector.
Ripple and Circle Decline to Comment
Both Ripple and Circle have remained silent on the matter, declining to issue any public statements regarding the acquisition talks. However, industry insiders believe that Ripple’s interest in Circle may continue, especially as competition among stablecoin issuers intensifies.
