According to Bloomberg, $XRP Ripple Labs Inc. made an acquisition offer ranging between 4 billion and 5 billion to Circle Internet Financial Ltd., the issuer of the $USDC stable coin. However, Circle declined the proposal. Despite this, Ripple remains interested in Circle but has not decided whether to make another offer.
The circle is among several cryptocurrency companies considering going public in the near future. Previously, Circle had planned to go public via a special purpose acquisition company (SPAC) deal in 2021, with a valuation reported at $9 billion. However, that deal was terminated due to delays and market conditions [1] .
Ripple, known for the $XRP token, has also launched its own stable coin, RLUSD, which has been approved by the New York Department of Financial Services. The company plans to expand its stablecoin offerings and has been exploring acquisitions to grow its presence in the blockchain and crypto sectors [2] .
While Ripple's acquisition attempt was unsuccessful, the company continues to seek opportunities to expand its offerings and presence in the cryptocurrency market.
