Ripple, a company specializing in blockchain payments, made an acquisition offer for Circle, the issuer of stablecoins, ranging between $4 billion and $5 billion, according to Bloomberg. However, Circle rejected the offer, deeming it too low.

Ripple has not yet decided whether to make another acquisition offer for the stablecoin issuer. This event occurred less than a month before Circle submitted its application for an initial public offering (IPO) in the United States. The details of this IPO, including the date and proposed price range, have not yet been disclosed.

Circle's decision to reject Ripple's offer comes amid its plans for a public listing. The company's IPO application indicates its intention to list on a U.S. exchange, a move that would open the company to a broader base of investors.

On the other hand, Ripple is expanding its footprint in the blockchain payments sector. The offer made to Circle is viewed as part of this growth strategy. However, with the rejection of this offer, it remains to be seen what steps Ripple will take in its future expansion plans.