#StablecoinPayments Ripple has been steadily expanding its influence. In late 2024, it launched a new stablecoin called RLUSD. While RLUSD has already reached a market cap of $316.9 million, that’s still modest compared to USDC’s $61.7 billion dominance. Ripple clearly understands the need to scale quickly to boost its presence in the market.

The offer to acquire Circle follows Ripple’s $1.25 billion acquisition of Hidden Road, a prime brokerage platform. That deal marked Ripple’s move beyond crypto and into traditional financial infrastructure. Buying Circle could have positioned Ripple as a serious contender in the global stablecoin competition.