u.today
San Francisco-based enterprise blockchain company Ripple has reportedly approached Circle with a mammoth acquisition offer. It has made an offer in the $4-5 billion range, according to the report.
However, Circle, Ripple's key competitor in the stablecoin sector, has rejected the offer since it believes that it undervalues the company.
This comes after Circle filed to launch an initial public offering (IPO) in the US.
As reported by U.Today, Ripple President Monica Long recently stated that the company was not interested in going public, adding that it was in an "acquisitive" position.
Earlier this month, Ripple announced its decision to buy prime brokerage Hidden Road for a whopping $1.25 billion, which marks one of the largest crypto deals in history.