Ripple Proposes Acquisition of Stablecoin Issuer Circle for $4-$5 Billion, According to Bloomberg Report
Top news: Ripple reportedly made a buyout offer to Circle, but it was turned down, according to Bloomberg.
So, what's the deal? Circle appears to be among the crop of crypto companies eyeing a public listing soon. While the specific details of Ripple's offer remain sketchy, it's clear that Circle isn't interested in a buyout at this time.
What's Circle all about? Well, they're a stablecoin issuer best known for their USDC coin. They've filed an S-1 registration statement with the SEC, aiming to list on the NYSE under the ticker "CRCL." They're shooting for a valuation between $4-5 billion. As of now, they're targeting a prospectus release by late April and an IPO launch in June 2025.
Wait a minute, didn't they try something like this before? Yeah, they initially attempted to go public through a SPAC merger in 2021, but delayed those plans due to regulatory issues.
What else is Circle up to these days? They're planning to launch a new cross-border payments network in May, using their stablecoins for real-time settlements. Seems like they're focusing on improving global payment efficiency.
As for Ripple, any connection with Circle? I haven't found any recent connections between Ripple and Circle in my research. Ripple's known for its XRP token and cross-border payment solutions, while Circle focuses on stablecoins like USDC.
And that's it? Pretty much! Circle's moving full steam ahead with its IPO plans, whether Ripple was interested or not. Keep an eye out for updates on their progress!
- Circle, known for its stablecoin USDC, is aiming to list on the NYSE with a valuation between $4-5 billion, despite Ripple's reported buyout offer being turned down.
- Circle, a company that initially attempted to go public through a SPAC merger in 2021 but delayed due to regulatory issues, is now targeting a prospectus release by late April and an IPO launch in June 2025.
- While Ripple and Circle might not have any recent connections, both companies are active in the finance business, focusing on cross-border payments and stablecoin solutions respectively.
- As Circle moves forward with its IPO plans, it's also planning to launch a new cross-border payments network in May, using their stablecoins for real-time settlements, demonstrating a focus on technology and global payment efficiency.
