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Blockchain payments firm Ripple reportedly made a $4–$5 billion acquisition offer for Circle, the issuer of the USDC stablecoin — but the bid was rejected, according to a Bloomberg report citing sources familiar with the matter.
The proposed deal, which would have marked one of the largest mergers in the digital asset sector, was reportedly turned down for being too low. Bloomberg noted that Ripple has not yet decided whether to submit a higher follow-up offer.
Bid Came Shortly After Circle Filed for IPO
The failed acquisition attempt comes just weeks after Circle filed for an initial public offering (IPO) in the United States — a move widely seen as an effort to strengthen its market position amid rising competition from other stablecoins like USDT, DAI, and FDUSD.
Both Ripple and Circle have yet to issue official statements regarding the reported bid. Cointelegraph reached out to both firms for comment but had not received a response at the time of publication.
Ripple’s Strategic Expansion
Ripple’s interest in acquiring Circle aligns with its broader strategy of expanding its footprint in the stablecoin and payments infrastructure market. Ripple recently announced plans to launch its own XRP-backed stablecoin, as well as explore further institutional partnerships and product offerings in 2025.
A successful acquisition of Circle — the second-largest stablecoin issuer with over $32 billion USDC in circulation — would have significantly accelerated Ripple’s entry into the stablecoin market and provided direct access to a vast user base and regulatory relationships.
Industry Implications
Had the deal gone through, it would have represented a major consolidation move in the crypto sector, potentially reshaping the stablecoin landscape and Ripple's positioning within U.S. regulatory frameworks. Analysts note that Circle’s IPO ambitions likely contributed to its decision to reject the offer, as a public listing could command a higher valuation than Ripple’s bid.
Blockchain payments firm Ripple reportedly made a $4–$5 billion acquisition offer for Circle, the issuer of the USDC stablecoin — but the bid was rejected, according to a Bloomberg report citing sources familiar with the matter.
The proposed deal, which would have marked one of the largest mergers in the digital asset sector, was reportedly turned down for being too low. Bloomberg noted that Ripple has not yet decided whether to submit a higher follow-up offer.
Bid Came Shortly After Circle Filed for IPO
The failed acquisition attempt comes just weeks after Circle filed for an initial public offering (IPO) in the United States — a move widely seen as an effort to strengthen its market position amid rising competition from other stablecoins like USDT, DAI, and FDUSD.
Both Ripple and Circle have yet to issue official statements regarding the reported bid. Cointelegraph reached out to both firms for comment but had not received a response at the time of publication.
Ripple’s Strategic Expansion
Ripple’s interest in acquiring Circle aligns with its broader strategy of expanding its footprint in the stablecoin and payments infrastructure market. Ripple recently announced plans to launch its own XRP-backed stablecoin, as well as explore further institutional partnerships and product offerings in 2025.
A successful acquisition of Circle — the second-largest stablecoin issuer with over $32 billion USDC in circulation — would have significantly accelerated Ripple’s entry into the stablecoin market and provided direct access to a vast user base and regulatory relationships.
Industry Implications
Had the deal gone through, it would have represented a major consolidation move in the crypto sector, potentially reshaping the stablecoin landscape and Ripple's positioning within U.S. regulatory frameworks. Analysts note that Circle’s IPO ambitions likely contributed to its decision to reject the offer, as a public listing could command a higher valuation than Ripple’s bid.
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