The American crypto company Ripple attempted to acquire Circle - the issuer of the USDC stablecoin - for $4-5 billion, Bloomberg reports citing sources.
The deal reportedly fell through due to an insufficient amount. It is reported that Ripple is still interested in the acquisition, but has not yet developed corresponding plans or made new proposals.
Circle declined to 'comment on market rumors.' According to sources, the firm will continue to work on its planned IPO. In early April, the procedure was postponed for an unspecified period due to market uncertainty.
“We are in a 'quiet period' with the SEC, so we cannot provide additional insights regarding corporate financial plans,” said a representative of the USDC issuer.
Previously, Circle announced its intention to launch its own payment system - a competitor to Visa and Mastercard.