Payment company #blockchain #Ripple has made an offer to acquire Circle, a stablecoin issuer, valued between $4 billion and $5 billion, according to Bloomberg. However, #Circle reportedly rejected the offer as it was deemed too low.
Ripple has yet to decide whether to make another offer to acquire the stablecoin issuer. This event comes less than a month after Circle filed for an initial public offering (IPO) in the United States. Details of this IPO, including the date and proposed price range, have not been disclosed.
Circle's decision to reject Ripple's offer comes amid its plans to go public. The company's IPO filing indicates its intention to be listed on a U.S. exchange, a move that would open the company to a wider investor base.
Ripple, on the other hand, has expanded its footprint in the blockchain payment sector. The offer for Circle is seen as part of this growth strategy. However, with this offer being rejected, it remains to be seen what steps Ripple will take next in its expansion plans.