Ripple, the blockchain firm known for its cross-border payments infrastructure, is rumoured to have made a bold $20 billion bid to acquire Circle, the issuer behind the USDC stablecoin. This follows an earlier offer in the $4–5 billion range, reportedly dismissed by Circle for undervaluing the company.
JUST IN: #Ripple is going big – reportedly increasing its bid to #acquire #Circle from $5B to $20B after being turned down the first time. pic.twitter.com/T8o76BOFnQ
— Roundtable Network (@RTB_io) May 2, 2025
The revised offer was first circulated by crypto influencer “Crypto Barbie” on X (formerly Twitter), who claimed, “Ripple hasn’t backed down. The $20B deal is moving toward completion.” While neither Ripple nor Circle has confirmed the figure, the rumour has ignited intense speculation across the crypto community.
Why Ripple Wants Circle?
Despite launching its own stablecoin, RLUSD, in December 2024, Ripple has struggled to gain traction in a market dominated by giants. RLUSD’s market cap stands at just $317 million—dwarfed by USDC’s $61.7 billion.
Acquiring Circle would give Ripple a massive boost, positioning it as the issuer of the second-largest stablecoin globally. More importantly, it would instantly scale Ripple’s stablecoin footprint and cement its role in the digital dollar economy—aligning perfectly with its focus on global remittances and enterprise-grade blockchain solutions.
IPO Plans and Regulatory Tensions
Circle filed confidential paperwork for a U.S. IPO in April, raising questions about whether a takeover could delay or derail the public listing. The company has remained silent on the deal rumours, likely due to SEC quiet period restrictions.
This development comes as Ripple finds new regulatory breathing room. In March, the SEC withdrew its appeal in its long-running case against Ripple after a $50 million settlement. The move followed reported interactions between Ripple CEO Brad Garlinghouse and former U.S. President Donald Trump—who has recently adopted a more pro-crypto stance. Ripple’s $5 million donation to Trump’s 2025 inaugural fund has further fuelled speculation of growing political influence.
Strategic Shift or Risky Move?
For Ripple, acquiring Circle would be a seismic pivot—transforming it from a blockchain service provider into a central issuer in the digital currency space. Such a shift could open doors for deeper integration with payment systems and central bank digital currency (CBDC) initiatives.
However, for Circle, the implications are more complex. USDC has earned trust as a neutral, reserve-backed stablecoin—an image that could be jeopardised by association with Ripple’s more centralised operations and legal baggage. A merger might amplify USDC’s adoption but risks diluting its independence.
