Ripple tried to buy back the issuer USDC, the second largest stablecoin by volume
The deal was estimated at $4-5 billion, but Circle rejected the offer, calling it understated
According to sources, Ripple is still interested in buying
Circle has already filed for an IPO with the SEC. The volume of USDC in circulation is $60 billion, and the market valuation of the company is from $5 to $9 billion.
In December, Ripple launched its own stablecoin, RLUSD, backed by the dollar and US government bonds.
Amid the mergers, Ripple is also acquiring broker Hidden Road for $1.25 billion.