Circle Internet Financial, the issuer of the USDC stablecoin, is considering a potential sale to Coinbase or Ripple, potentially diverting from its planned IPO.
Despite filing for an IPO in April, Circle has engaged in informal acquisition talks, seeking a valuation of at least US$5 billion.
While Circle maintains it is not for sale and focused on long-term goals, recent discussions indicate openness to alternative outcomes.
Coinbase, with close ties to Circle, and Ripple have shown interest in potential acquisitions, with Ripple offering US$4-5 billion, an offer that was reportedly declined.