据《财富》报道，Circle正在探索潜在的收购，主要是由Coinbase探索。

USDC（USDC）的发行人Circle Internet Financial正在以其计划的首次公开发行前进。但是在幕后，稳定的

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）的发行人Circle Internet Financial正在敦促其计划的首次公开发行。但是，近几个月来，该公司还与两家主要的加密货币公司Coinbase（Coin）和Ripple（XRP）进行了非正式的销售会谈。

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

Circle的价值约为40亿至50亿美元。目前尚不清楚双方之间讨论了什么术语（如果有）。

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

一位熟悉此事的银行家告诉Blockworks：“如果Coinbase想购买它们，Circle将会以心跳为单位。”

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.

尽管仍有IPO计划，但尚未宣布IPO条款或路演，目前尚不清楚该公司是否会直接上市。

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可能是圈子最合适的买家。这两家公司于2018年与他人共同创立的中心财团颁发了USDC，但仍来自储备金的收入。

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具有有利的条款，其中包括USDC在其平台上持有的100％的收入。它还对Circle的合伙决定和知识产权有影响。

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首席执行官布莱恩·阿姆斯特朗（Brian Armstrong）在5月14日还表示，尽管已经披露了通过收购扩展的兴趣，但Circle的IPO计划并不影响其商业关系，并暗示对未来的交易开放。

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

通过收购Deribit和Spindle，Coinbase今年已经提高了并购活动。

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希望也可能会受到埃托罗（Etoro）最近的强劲市场首次亮相的推动。但是，战略销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.

同时，据说Ripple向Circle提出了约40亿至50亿美元的提议，据报道，这被拒绝了。

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

但是，Blockworks在3月报道说，这两家公司的高管讨论了合并的潜力。

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.

据报道，Ripple可能会利用其大型XRP储备（包括托管中的代币时的价值超过1000亿美元）来资助交易。但是，Coinbase拥有80亿美元的现金以及通过公共市场快速筹集资金的能力，是更强大的财务竞争者。

A spokesperson for Circle declined to comment.

Circle的发言人拒绝发表评论。