$USDC

Ripple, a company specializing in blockchain payments, made an offer to acquire Circle, the stablecoin issuer, for an amount ranging between $4 billion and $5 billion, according to Bloomberg. However, Circle rejected the offer, considering it too low.

Ripple has not yet decided whether to make another offer to acquire the stablecoin issuer. This event occurred less than a month before Circle submitted its initial public offering (IPO) application 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 up 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 seen 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.