Ripple’s Attempt to Acquire Circle Rejected as IPO Takes Priority
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Ripple reportedly attempted a bold takeover of Circle, the company behind the USDC stablecoin—but the deal never made it to the finish line.
Sources familiar with the matter say Ripple’s offer, estimated between $4 billion and $5 billion, was turned down, with Circle choosing instead to stay focused on its plans to go public.
If successful, the acquisition would have marked a significant escalation in Ripple’s stablecoin ambitions. The company recently launched RLUSD, which is starting to gain traction but still lags behind major players like USDC in market cap and adoption.
Ripple’s offer seemed to signal its intent to accelerate that growth and take a larger slice of the stablecoin market.
The failed deal surfaced shortly after Ripple agreed to acquire crypto brokerage firm Hidden Road for $1.25 billion, suggesting a broader expansion strategy.
Meanwhile, Circle has been actively pushing its payment infrastructure into new global markets, including a recent green light from regulators in Abu Dhabi to operate as a money service business.
Both companies are already positioned in the cross-border payments space, adding a competitive edge to their relationship. Legal commentator John Deaton chimed in after news of Ripple’s proposal broke, speculating whether either firm might eventually pivot toward becoming a licensed financial institution.
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