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Pro-XRP Lawyer Says Ripple’s Circle Acquisition Move Raises Two Questions
Ripple’s proposed acquisition of Circle, the USDC stablecoin issuer, has raised several eyebrows in the crypto community. However, one pro-XRP lawyer, Bill Morgan, has shed more light on the matter by identifying two crucial questions that come with this move.
According to Morgan, the reported offer could be a strategic reaction to the growing competition between Ripple and Circle. He notes that Ripple’s introduction of RLUSD, a U.S. dollar-backed stablecoin aimed at the same market segment occupied by USDC, was swiftly followed by Circle launching a cross-border payments platform, which he views as direct competition to Ripple’s enterprise focus and XRP’s use as a bridge asset.
Morgan believes that the acquisition offer now appears to follow a sequence of tit-for-tat moves between the two companies. In his view, Ripple may be looking to buy out the company it had just positioned itself against.
This development has significant implications for the stablecoin landscape. If confirmed, such a transaction would dramatically alter the dynamics by granting Ripple access to Circle’s infrastructure, partnerships, and user base, positioning it more competitively in digital payments overall. It could also raise new questions about the role of XRP going forward as USDC and RLUSD would presumably operate in overlapping use cases.
Moon Lambo, another prominent pro-XRP influencer, has also weighed in on the matter, offering a more nuanced perspective on Ripple’s strategy. While acknowledging the importance of internal development, he believes that Ripple may need to take bold steps such as external consolidation to strengthen its foothold in the evolving financial ecosystem.
The implications of this proposed acquisition are far-reaching and would require careful consideration by stakeholders, investors, and users alike.
Source: https://timestabloid.com/pro-xrp-lawyer-says-ripples-circle-acquisition-move-raises-two-questions/
