Ripple offered up to $5B to acquire Circle

Ripple offered to acquire stablecoin issuer Circle for a price of $4B to $5B. Circle allegedly refused the offer as too low. 

Ripple, Inc., the issuer of XRP, reportedly set out an offer to acquire stablecoin issuer Circle. The price of $4B to $5B was rejected as too low. Crypto sources and influencers repeated the allegations, though the two sides are yet to issue an official statement. 

According to sources familiar with the acquisition attempt, Ripple has not considered making a higher offer. 

The acquisition attempt surfaced just as Circle was intending to conduct an IPO, getting a potentially higher valuation for the company. Recent estimates based on the IPO plans value Circle at between $4B to $6B.

Circle representatives have said there are no plans to abandon the IPO, and the company will go through with its plans. The company refused to comment on the rumors or share more details on the negotiation process. 

Following the reported acquisition attempt, XRP remained slightly lower at $2.19, as the crypto market took a step back. XRP is not needed as a utility token, as Ripple’s payment network can handle transactions without the need for a native token. 

Ripple faces fintech competition 

Ripple came up with the offer just as Circle was expanding its options for fast on-chain payments. Ripple’s main bid to mass adoption is its fintech activity, offering cheap world-spanning payment networks. 

Circle is also aiming to expand its stablecoin services, moving into payments in addition to using USDC in trading pairs. Circle became a potential competitor of Ripple, after announcing its Circle Payments Network (CPN), a mass adoption payment layer for the Internet. 

With CPN, we are building a network platform that offers economics and aligned incentives for the entire ecosystem. Big tent mentality here at Circle. Let's build the internet financial system together. https://t.co/82mtLfjjFt

— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) April 30, 2025

Circle also expands the influence of its stablecoins, growing the supply of USDC with new mints on Solana and Base. Previously, the stablecoin issuer has stated it aims to turn CPN into a direct rival or even a ‘killer’ of Ripple’s payment system.

Circle has issued over $60B in USDC stablecoins, becoming more influential on both centralized exchanges and Solana DEX. USDC retains 90.7K daily active addresses, with daily trading volumes of $9.6B.

Ripple expands through acquisitions

Ripple has been on an acquisition spree in 2025, after ending its long-running lawsuit against the US SEC. 

In early January, Ripple finalized the acquisition of small companies valued at $250M. Ripple has looked into tokenization tools, custodial and trading services. 

In April, Ripple also acquired prime broker Hidden Road for $1.25B, aiming to expand its influence among professional and institutional traders. 

The acquisition offer arrives at a time when fintech apps aim to integrate stablecoins as a faster settlement layer. VISA announced a partnership with Bridge, part of the Stripe fintech group, to issue new stablecoin payment gateways. Stripe itself is building a new stablecoin product, moving from a fintech app to a crypto payment gateway. 

Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot