title: Ripple and Coinbase Have Both Reportedly Participated in Informal Talks to Acquire the Stablecoin Issuer Circle.

Fortune, citing four anonymous banking and private equity executives, reports that Circle wants at least $5 billion for a sale.

Reports that Ripple (RPL) has bid to acquire Circle at a price of $4-5 billion can be attributed to Fortune. The report, which cites four banking and private equity executives, adds that the stablecoin issuer wants at least $5 billion for a sale.

The USDC issuer has been gearing up for an initial public offering (IPO), but the firm would scuttle those plans should an acquisition materialize. The stablecoin giant filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) last month.

Circle initially announced plans to go public back in 2021, via a merger with Concord Acquisition Corp, a publicly traded special purpose acquisition company (SPAC). Those plans were called off in December 2022.

Circle and Coinbase already have a close cooperation. Together, they co-created USDC in 2018 and jointly managed the asset through the Centre Consortium until 2023.

This year, Circle CEO Jeremy Allaire announced that his company would bring all of USDC's governance and operations responsibilities in-house to streamline management of the stablecoin.

Coinbase said at the time that it would purchase an equity stake in Circle, and the stablecoin issuer's April S-1 registration statement indicates that the top US crypto exchange receives revenue generated from USDC reserves. Coinbase became a public company in April 2021.

According to the report, private equity firms have also approached Circle about a potential acquisition.

Earlier this year, a report from The Block claimed that private equity firms Apollo and Bain Capital were among the firms to contact Circle.

At the time, a spokesperson for Circle told The Block that the company is "constantly approached by opportunistic buyers, but they are not for sale."

"We have a clear and defined strategy to build the leading global financial technology company and the premier decentralized financial institution of the future, and we are focused on executing this plan," the spokesperson added.

An acquisition of Circle would be a significant move for either Ripple or Coinbase. It would also be a major development for the cryptocurrency industry.

Circle is one of the largest and most popular stablecoin issuers in the world. USDC is the second-largest stablecoin by market capitalization, and it is used by millions of people and businesses around the world.

Both Ripple and Coinbase are major players in the cryptocurrency industry. Ripple is a blockchain company that provides financial technology solutions to banks and other financial institutions. Coinbase is a cryptocurrency exchange that allows users to buy, sell, and trade crypto assets.

If either Ripple or Coinbase were to acquire Circle, it would be a clear indication of the industry's consolidation and maturation. It would also be a testament to the value that both parties have created.output: has reportedly bid to purchase stablecoin issuer Circle at a price of $4-5 billion, while is said to have also made an offer for the firm.

According to a report by Fortune, which cites four banking and private equity executives, Ripple rejected the stablecoin giant's request for at least $5 billion.

The USDC issuer has been gearing up for an initial public offering (IPO), but the firm would scuttle those plans should an acquisition materialize. The stablecoin giant filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) last month.

Circle initially announced plans to go public back in 2021, via a merger with Concord Acquisition Corp, a publicly traded special purpose acquisition company (SPAC). Those plans were called off in December 2022.

Circle and Coinbase already have a long history: The firms co-created USDC in 2018 and jointly managed the asset through the Centre Consortium until 2023.

This year, Circle CEO Jeremy Allaire announced that his company would bring all of USDC's governance and operations responsibilities in-house to streamline management of the stablecoin.

Coinbase said at the time that it would purchase an equity stake in Circle, and the stablecoin issuer's April S-1 registration statement indicates that the top US crypto exchange receives revenue generated from USDC reserves. Coinbase became a public company in April 2021.

The report adds that private equity firms have also approached Circle about a potential acquisition. Earlier this year, a report from The Block claimed that private equity firms Apollo and Bain Capital were among the firms to contact Circle.

At the time, a spokesperson for Circle told The Block that the company is "constantly approached by opportunistic buyers, but they are not for sale."

"We have a clear and defined strategy to build the leading global financial technology company and the premier decentralized financial institution of the future, and we are focused on executing this plan," the spokesperson added.

An acquisition of Circle would be a significant move for either Ripple or Coinbase. It would also be a major development for the cryptocurrency industry.

Circle