Circle, the issuer of USD Coin (USDC), is reportedly in informal acquisition talks with Ripple Labs and Coinbase, according to Fortune. This development comes as Circle continues preparations for its planned Initial Public Offering (IPO). Despite its IPO filing, the company remains open to offers from major players in the crypto industry.
Circle IPO Filing and Reported Valuation
Circle filed for an IPO with the U.S. Securities and Exchange Commission (SEC) in early April 2025. The offering, if approved, would make Circle a publicly traded company. Sources familiar with the matter told Fortune that the company’s valuation target is approximately $5 billion.
While Circle has made moves toward going public since at least 2022, acquisition interest persists. The company’s role as the primary issuer of the second-largest stablecoin by market cap continues to attract buyers. USDC remains critical in crypto payments, decentralized finance, and institutional transfers.
Ongoing Informal Talks with Ripple and Coinbase
According to Fortune, informal discussions between Circle and Ripple Labs are ongoing. Ripple has expressed interest in acquiring Circle, although no formal deal has been reached. Sources cited by the publication say Coinbase is also part of these informal negotiations.
The sources added that Circle would consider selling the business if Coinbase offers a suitable bid. While no formal terms have been disclosed, the report confirms that conversations are still evolving. It remains unclear if the talks will lead to a confirmed acquisition.
Market Reaction and Strategic Importance of USDC
USDC is an important component of the crypto sector. As of now, CoinMarketCap confirms that it is worth over $32 billion. Circle’s strong position in the stablecoin industry comes from its partnerships and compliance with regulations.
Since Coinbase was part of starting the Centre Consortium, the company has a close link with Circle. In contrast, Ripple has focused on growing in stablecoins and the payment technology industry. If a company acquires Circle, it could have a significant impact on the digital asset sector.
There would also be more regulations to consider as a result of the acquisition. Both Ripple and Coinbase are now dealing with lawsuits filed by the SEC. Since Circle has filed for an IPO and made its operations transparent, it may appeal to companies wishing to invest in growing the stablecoin industry.
