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Ripple offered between $4 billion and $5 billion to buy a stablecoin: Bloomberg
According to the story, the offer was rejected because it was too low.
What you need to know
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According to Bloomberg, Ripple proposed to buy Circle, a stablecoin issuer.
The offer was rejected, according to the story.
Circle is among a group of crypto companies looking to go public in the near future.
According to Bloomberg, Ripple, which issues not only XRP but also the stablecoin RLUSD, attempted to buy Circle, the issuer of the USDC stablecoin, and was rejected.
Sources told Bloomberg that Ripple remains interested in Circle, but has not yet decided whether to make another offer.
The market capitalization of the RLUSD stablecoin recently launched by Ripple is just over $300 million, while Circle's USDC has a market capitalization of over $60 billion.
Circle is one of a growing number of crypto-related companies aiming to go public in the near future.