Ripple reportedly made a $5 billion offer to buy Circle, the issuer of the USDC stablecoin, the second largest in the market. However, Circle is said to have rejected it.
Reports suggest that an offer of $5 billion would be too low.
Ripple tried to buy the competitor
According to various reports on social media, supposedly originating after the publication on Bloomberg, Circle rejected Ripple's large purchase offer. The issuer of the second largest stablecoin on the planet recently filed for an IPO but paused plans after the chaos of Trump's tariffs.
In fact, this IPO suggests that Circle may be open to acquisition offers in the future, and Ripple made an effort. After all, analysts have raised concerns about Circle's finances. Ripple executives, in turn, recently stated that they have no plans to go public.
Ripple entered the stablecoin market with RLUSD, an asset that competes directly with Circle's USDC. The market value of Ripple's RLUSD stablecoin has consistently increased over the past 3 months, currently at $318 million.
It would be a powerful business opportunity if the company could take over Circle's expertise and market share in stablecoins. For now, it is unclear if new negotiations will occur or if other companies will make larger offers.
The article Circle reportedly rejected Ripple's $5 billion offer was first seen on BeInCrypto Brazil.
