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The Blockchain Bulletin May 3rd: Ripple’s $20B Bid for Circle Signals Stablecoin Power Play
Ripple has reportedly raised its acquisition offer for Circle to a staggering $20 billion, following the rejection of an earlier bid in the range of $4–$5 billion. Sources familiar with the matter suggest that Circle’s executives dismissed the initial proposal as undervalued, particularly considering Circle’s $9 billion valuation during its failed 2022 public listing attempt.
This significant increase in Ripple’s offer underscores the company’s determination to extend its influence within the stablecoin ecosystem. Circle, the issuer of USD Coin (USDC)—currently the second-largest stablecoin by market capitalization after Tether’s USDT—recently filed for an initial public offering, signaling confidence in its market standing.
Ripple aims to strengthen its position within the stablecoin segment by acquiring Circle and gaining control over the widely used USDC. The blockchain-based payment firm has been actively investing in its own XRP-pegged stablecoin, XRPUSD, which has gained popularity among institutional investors.
Circle’s USD Coin (USDC) dominates the stablecoin market with a significant portion of market capitalization and daily transactions volume. If Ripple succeeds in acquiring Circle, it would solidify its position as a major player in the stablecoin space, allowing it to expand its offerings and capitalize on growing demand for decentralized lending and borrowing platforms.
This development highlights the growing competition among stablecoin issuers, with Ripple aiming to establish itself as a dominant force within this ecosystem.
Source: https://cryptotale.org/the-blockchain-bulletin-may-3rd-ripples-20b-bid-for-circle-signals-stablecoin-power-play/
