據《財富》報導，Circle正在探索潛在的收購，主要是由Coinbase探索。

USDC（USDC）的發行人Circle Internet Financial正在以其計劃的首次公開發行前進。但是在幕後，穩定的

Circle Internet Financial, the issuer of USD coin (USDC), is pressing ahead with its planned initial public offering. But the firm has also been engaged in informal sale talks with Coinbase (COIN) and Ripple (XRP), two major cryptocurrency firms, in recent months, according to four people familiar with the matter.

USD Coin（USDC）的發行人Circle Internet Financial正在敦促其計劃的首次公開發行。但是，近幾個月來，該公司還與兩家主要的加密貨幣公司Coinbase（Coin）和Ripple（XRP）進行了非正式的銷售會談。

Circle is valued at about $4 billion to $5 billion. It is unclear what terms, if any, have been discussed between the parties.

Circle的價值約為40億至50億美元。目前尚不清楚雙方之間討論了什麼術語（如果有）。

“If Coinbase wanted to buy them, Circle would sell in a heartbeat,” one banker familiar with the matter told Blockworks.

一位熟悉此事的銀行家告訴Blockworks：“如果Coinbase想購買它們，Circle將會以心跳為單位。”

While plans for an IPO are still in place, no IPO terms or roadshow have yet been announced, and it is unclear whether the company will pursue a direct listing.

儘管仍有IPO計劃，但尚未宣布IPO條款或路演，目前尚不清楚該公司是否會直接上市。

Coinbase is likely the best-suited buyer for Circle. The two firms co-founded Centre Consortium in 2018 to issue USDC and still share revenue from reserve interest.

Coinbase可能是圈子最合適的買家。這兩家公司於2018年與他人共同創立的中心財團頒發了USDC，但仍來自儲備金的收入。

Coinbase has favorable terms, including a 100% share of revenue from USDC held on its platform. It also holds influence over Circle’s partnership decisions and intellectual property rights.

Coinbase具有有利的條款，其中包括USDC在其平台上持有的100％的收入。它還對Circle的合夥決定和知識產權有影響。

Coinbase CEO Brian Armstrong also said on May 14 that Circle’s IPO plans don’t affect their commercial ties and hinted at being open to future deals, despite already disclosing an interest in expanding through acquisitions.

Coinbase首席執行官布萊恩·阿姆斯特朗（Brian Armstrong）在5月14日還表示，儘管已經披露了通過收購擴展的興趣，但Circle的IPO計劃並不影響其商業關係，並暗示對未來的交易開放。

Coinbase has already ramped up its M&A activity this year with the acquisitions of Deribit and Spindle.

通過收購Deribit和Spindle，Coinbase今年已經提高了併購活動。

Circle’s IPO hopes may also be buoyed by eToro’s recent strong market debut. However, the possibility of a strategic sale remains on the table.

Circle的IPO希望也可能會受到埃托羅（Etoro）最近的強勁市場首次亮相的推動。但是，戰略銷售的可能性仍然存在。

Meanwhile, Ripple is also said to have made an offer of around $4 billion to $5 billion for Circle, which was reportedly rejected.

同時，據說Ripple向Circle提出了約40億至50億美元的提議，據報導，這被拒絕了。

However, Blockworks reported in March that executives at the two firms had discussed the potential of a merger.

但是，Blockworks在3月報導說，這兩家公司的高管討論了合併的潛力。

Ripple could reportedly leverage its large XRP reserves—which are valued at over $100 billion when including tokens in escrow—to fund a deal. But Coinbase, with $8 billion in cash and the ability to raise capital quickly through the public markets, is the stronger financial contender.

據報導，Ripple可能會利用其大型XRP儲備（包括託管中的代幣時的價值超過1000億美元）來資助交易。但是，Coinbase擁有80億美元的現金以及通過公共市場快速籌集資金的能力，是更強大的財務競爭者。

A spokesperson for Circle declined to comment.

Circle的發言人拒絕發表評論。