Circle Rumored to Be Acquired by Ripple or Coinbase Despite Recent IPO Filing

Jakarta, Pintu News – Amid plans for an initial public offering (IPO) in early April 2025, Circle-the company behind stablecoin USD Coin (USDC)-is reportedly still open to acquisitions.

This information comes from a recent report by Fortune which mentions that Circle is in informal talks with two crypto giants, namely Ripple Labs and Coinbase Global Inc.

Although Circle has been pursuing public company status since 2022, it is still a big target for other crypto players. Reports say that Circle’s IPO valuation is targeted at $5 billion or around Rp82 trillion.

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Coinbase and Ripple are ready to fight, who has the upper hand?

In the report, Coinbase was mentioned as the most favored party to acquire Circle. While there is no official timeline or certainty regarding the negotiation process, internal sources say that discussions are actively ongoing.

Coinbase, which had just acquired Deribit for $2.9 billion earlier in the year, showed great financial capacity to secure Circle.

On the other hand, Ripple Labs, the company behind the cryptocurrency Ripple (XRP), has also made an acquisition offer for Circle for between $4-5 billion.

However, the offer was reportedly rejected as it did not reflect Circle’s market value. With 100 billion XRP in reserves, Ripple still has enormous financial strength to structure a new offer.

Also read: 3 Potential Crypto Traders’ Favorite Altcoins

The purpose of the acquisition is still mysterious, but the potential is great

It’s not yet known exactly what Ripple’s or Coinbase’s primary motivation is in targeting Circle. Many speculate that both Ripple and Coinbase see great potential in stablecoin market dominance, especially with the popularity of USDC as one of the largest stablecoins besides Tether (USDT). USDC, which is known for being stable and transparent, has become the first choice of many financial institutions and DeFi platforms.

In addition, Circle is known to be active in building cooperation with regulators in various countries, making the company attractive to big players looking to strengthen the legitimacy of their operations.

With crypto increasingly integrated into the global financial system, ownership of stablecoin issuers could be a key weapon in expanding market share. This could be a strong reason behind the two crypto giants’ pursuit of Circle.

Also read: Ethereum price rises 7% today (5/20/25), analysts believe ETH can reach $4,000!

Crypto giants get more aggressive, M&A becomes new expansion strategy

Circle’s acquisition is not the only action in the industry. Previously, Coinbase has shown its aggressiveness by buying Deribit, while Ripple has acquired Hidden Road for $1.25 billion.

This move shows that mergers & acquisitions (M&A) are becoming a new strategy for crypto companies to expand their influence and technology. In the fast-changing crypto world, the power of cash and digital assets is now the key to winning market dominance.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• CoinGape. Coinbase Acquires Deribit for $2.9B; Ripple Buys Hidden Road for $1.25B. Accessed May 20, 2025.
• Featured Image: Forkast News