Circle Internet Financial, the issuer of the USDC stablecoin, is preparing for an IPO with an ambitious valuation of $10 billion, rejecting Ripple's acquisition offer of $4-5 billion. This became known on May 1, 2025, following a Bloomberg report. Circle considers the offer undervalued, as the market capitalization of USDC is $61.7 billion, and the company's previous valuation in 2022 reached $9 billion. Instead, Circle is focusing on the IPO filed in April, aiming to become a public company on the NYSE under the ticker CRCL.
The rejection of Ripple's offer underscores Circle's confidence in its strategy. The company, backed by BlackRock and Fidelity, sees greater potential in independent development and regulatory transparency, which may strengthen its position in the stablecoin market. Meanwhile, Ripple, whose RLUSD has a capitalization of only $316.9 million, aims to expand its influence in the sector through acquisitions, particularly after the purchase of Hidden Road for $1.25 billion.
Experts note that Circle's IPO could be significant for the crypto industry, as interest from institutional investors in stablecoins is growing. However, market uncertainty and regulatory challenges may impact its success. Circle is betting on its reputation and strategic independence.
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