Ripple's recent $4–$5 billion acquisition bid for Circle, the issuer of the $USDC stablecoin, has reportedly been rejected, as sources indicate the offer was deemed too low. This bid came shortly after Circle filed for an IPO in the U.S., aiming to bolster its market position against competitors like USDT and DAI. Both companies have not yet commented on the situation. Ripple's interest in Circle aligns with its strategy to expand in the stablecoin market, especially as it plans to launch its own $XRP -backed stablecoin. A successful acquisition would have significantly boosted Ripple's presence and user base in the stablecoin sector. Analysts suggest Circle's IPO ambitions likely influenced its decision to turn down the offer, as a public listing could yield a higher valuation.
