In a massive development, Ripple would have offered to buy USDC from Circle, although the agreement did not drop while the Stablecoin issuer rejected the amount that the Crypto company offered. A potential acquisition would be a huge decision for the Crypto company, since it already issues the Stablecoin Rlusd, which earns a market share.
Ripple offered to buy circle for $ 5 billion
According to a Bloomberg reportRipple proposed to buy circle for $ 4 to 5 billion, but the stablecoin transmitter rejected the offer because it was too low. The report has also revealed that the USDC issuer focuses more on monitoring the initial public offer (IPO) which it filed earlier this month. Meanwhile, the Rusd transmitter has not yet decided to make another circle offer.
This development occurs just when the company led by Brad Garlinghouse has agreed to acquire Prime Broker Hidden Road for $ 1.25 billion earlier this month. It should be mentioned that Ripple already emits the Rlusd Stablecoin, which is the 12th largest by market capitalization. Meanwhile, the USDC is the second largest in market capitalization.
As such, a Circle acquisition would undoubtedly have widened the domination of the Crypto Society in the Stablescoin industry. Stablecoin Rlusd recently exceeded the market capitalization phase of $ 300, but still plays catching up with other stablecoins.
Interestingly, Circle recently launched its payment services for cross -border transactions. This decision puts the company in competition with Ripple, which already offers payment services focused on cross -border transactions.
Circle has also taken measures to extend its services beyond the United States, while the Stablecoin USDC issuer obtained approval from the principle of the financial regulator of Abu Dhabi to operate a monetary service company in the region.
The pro-XRP lawyer, John Deaton, commented Ripple's proposal to acquire Circle. In a post X, he wondered if the two companies could move to buy or become a bank afterwards. He also asked how Brad Garlinghouse will go as part of his business vision.
Boluwatife Adeyemi
Boluwatifone Adeyemi is a writer and publisher of new experienced crypto who has covered subjects that have crossed several subjects and niches. Boluwatife has the talent to simplify the most technical concepts and facilitate understanding of cryptographic beginners. Far from writing, he is a passionate basketball lover, a traveler and a part-time dengen.
Warning: The content presented may include the author's personal opinion and is subject to the market state. Do your market studies before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
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