In a massive development, Ripple allegedly offered to buy USDC issuer Circle, although the deal didn’t fall through as the stablecoin issuer rejected the amount that the crypto firm offered. A potential acquisition would be a huge move for the crypto firm, considering that it already issues the RLUSD stablecoin, which is gaining market share.
Ripple Offered To Buy Circle For $5 Billion
According to a Bloomberg report, Ripple offered to buy Citcle for $4 to $5 billion, but the stablecoin issuer rejected the bid because it was too low. The report further revealed that the USDC issuer is more focused on following through with the initial public offering (IPO) it filed earlier this month. Meanwhile, the RLUSD issuer has yet to decide whether to make another offer to Circle.
This development comes just as the Brad Garlinghouse-led company agreed to acquire prime broker Hidden Road for $1.25 billion earlier this month.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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