Ripple (XRP) Expands Reach in Crypto Industry by Targeting Circle (USDC) for Acquisition

Ripple is making waves in the crypto industry with a number of developments. There's the resolution of the long-lasting legal dispute with the US

According to a report by Bloomberg, which cites sources familiar with the matter, Ripple recently made an attempt to acquire Circle at a valuation of between US$4 billion and US$5 billion. However, the offer was rejected by Circle, the report adds.

Circle is one of the largest stablecoin issuers, with USDC being the second-largest stablecoin behind Tether’s USDT. A spokesperson for Circle said they “do not comment on market rumors or speculation”, adding their plans remain unchanged.

Earlier this year, Ripple completed the acquisition of crypto trading firm Hidden Road, which was one of the major takeovers in the crypto industry. The price tag for the deal is said to be around US$1.25 billion.

The report also mentions that Ripple launched their own stablecoin, RLUSD, in December 2024, which has a market cap of US$317 million compared to USDC’s US$61.5 billion.

If true, Ripple’s move to take over Circle is another bold move by the San Francisco-based fintech, which is rapidly increasing its influence in the sector. The company’s Chief Technology Officer (CTO), David Schwartz, called it a “defining moment”, while Cassie Craddock, the Managing Director for Ripple UK and Europe, said the move was a major boost for the XRP Ledger (XRPL).

The XRPL is a fast, low-cost and energy-efficient blockchain developed by Ripple for cross-border payments and token transfers. It uses a unique consensus mechanism instead of traditional mining.

The XRP coin itself is down over the past 24 hours, losing 1.5% and currently trades at US$2.20.

There was also bullish news for XRPL: the XRP Ledger has introduced Ethereum-compatible smart contracts via its EVM sidechain, allowing developers to build on XRPL using familiar Ethereum tools while enabling XRP to be used with wallets like MetaMask – another major step toward greater interoperability and adoption.

✨Sometimes the small details make the difference.

✅ Excited to see the $XRP token listed and recognized on the largest wallet for the first time ever, thanks to the XRPL EVM Sidechain

🚀🦊You can try it on latest @MetaMask version both extension and mobile.The combo is heating up 🔥

… smaller zoom on the image for more details 😉

A big thank you to the teams at both Stellar and Flow for their contributions to this effort. We’re all working together to advance Web3.

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suggest that the integration of the XRP Ledger’s EVM sidechain into MetaMask is now complete, and users can access it on the latest versions of the MetaMask extension and mobile app.

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