Ripple’s $5B Bid for USDC Issuer Circle: Bloomberg Report Reveals

As reported by Bloomberg, Ripple purportedly proposed an acquisition of the USDC stablecoin issuer Circle for an amount ranging from $4 to $5 billion.

However, the deal did not materialize as Circle declined the offer made by the cryptocurrency company.

This potential acquisition would represent a significant strategic move for Ripple, especially given its existing issuance of the RLUSD stablecoin, which is currently increasing its presence in the market.

Ripple Offered To Buy Circle For $5 Billion

As reported by Bloomberg, Ripple proposed an acquisition of Circle for between $4 billion and $5 billion; however, the stablecoin issuer declined the offer, deeming it insufficient.

The report also indicated that the issuer of USDC is prioritizing the execution of its initial public offering (IPO) submitted earlier this month.

In the meantime, the issuer of RLUSD has not yet determined whether to extend a new offer to Circle.

This news coincides with the recent agreement by the company led by Brad Garlinghouse to purchase prime broker Hidden Road for $1.25 billion earlier this month.

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