Circle denies sales rumors: no conversations with Coinbase or Ripple

Circle, the publisher of USDC, makes it clear that it has no plans to be taken over, despite persistent interest of heavyweights such as Ripple and Coinbase. Circle resolutely opts for his own growth path via an IPO. Recently, rumors have been circulating about a possible billion -dollar takeover by Ripple, but that turns out to be nonsense.

IPO remains the focus

Circle, publisher of the USDC Stablecoin, has spoken against reports that it would be talking about a possible takeover by Coinbase or Ripple. In response to speculation from an article on Seeking Alpha, the company makes it clear that there are no sales plans.

“We are not for sale.” “Our long -term goals remain unchanged,” a Circle spokesperson told Pymnts. This follows earlier reports that Ripple would have done a takeover bid between 4 and $ 5 billion, which was rejected by Circle as too low.

Circle will stick to his IPO, which was arrested again in April 2024. The company has since appointed investment banks to guide this process, although it is not yet known when the IPO will take place.

The renewed focus on IPOs does not fall from the sky. Great crypto players do everything in its power to increase their market share, both through acquisitions and public quotations. Coinbase recently announced that Dubai wants to take over the Derivaten platform Deribit for $ 2.9 billion. Ripple previously bought Hidden Road, a Multi-AST Prime Broker, for $ 1.25 billion.

Circle stays on its own course

Circle does not sit still in the meantime. In January the Hashnote company, the publisher of UYC, took over a stablecoin supported by Cumberland Labs. According to CEO Jeremy Allaire, this step helps to attract more large parties that are used to structures from the traditional financial world.

Although Ripple is said to be interested in Circle, the company is currently mainly focused on its own growth path. The Stablecoins market is becoming increasingly competitive, especially now that institutional investors are stirring.

XRP, Ripple’s own Cryptocurrency, in the meantime performs changeable. At the time of writing, the XRP course notes $ 2.31. In the past fourteen days, the currency lost more than 10%, and did not benefit from the new heights that Bitcoin (BTC) recently reached.