‘Circle is not for sale’, the USDC stablecoin issuer has clarified

While the crypto industry was recently abuzz with talks of a possible sale, the stablecoin firm has denied the report.

Rumors in the crypto industry had sparked interest in a possible acquisition of Coinbase or Ripple by Circle, the issuer of USDC stablecoin. However, the stablecoin firm has dismissed the report and continues to pursue its plans for an Initial Public Offering (IPO), aiming for a listing on the New York Stock Exchange (NYSE) later this year.

Earlier reports suggested that blockchain firm Ripple had offered $5 billion in a takeover bid for stablecoin firm Circle. However, during the negotiation process, the USDC issuer had denied the bid of $4-$5 billion from Ripple, deeming it too low and insufficient.

Although Ripple is said to be interested in making an offer, no decision has yet been made on a revised proposal. Meanwhile, the USDC issuer is focusing on its IPO plans. In a statement to PYMT, a company spokesperson said, “Circle is not for sale. Our long-term goals remain the same.”

Earlier this year, the USDC stablecoin issuer filed for a US IPO amid a positive regulatory shift following the Trump administration's takeover in January 2025. The company has submitted its prospectus to the Securities and Exchange Commission (SEC), applying to list its shares on the New York Stock Exchange (NYSE) with the ticker symbol "CRCL".

The stablecoin market is a competitive space, particularly for US firms, as the GENIUS Act, a bill designed to regulate stablecoins in the US, is nearing approval. Currently, Tether's USDT holds the largest market share at 66%, while USDC claims 28% of the total market.

Now, with the stablecoin bill in sight, Wall Street banking institutions and leading crypto firms are preparing to launch their own Dollar-backed stablecoins. Ripple has already introduced its RLUSD stablecoin, which has a market cap of over $310 million and is available on crypto exchange Gemini.

A potential takeover of Circle could have benefited either Coinbase or Ripple in further strengthening their market positions. However, for the time being, the USDC issuer is proceeding independently.