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Ripple CEO Brad Garlinghouse has put to rest recent rumors about the company’s supposed multi-billion dollar bid to acquire Circle, the issuer of the USDC stablecoin. During a fireside chat at the XRP Las Vegas conference, Garlinghouse clarified the situation, emphasizing that Ripple never made an offer in the $10 to $20 billion range for Circle.
The speculation around Ripple’s interest in Circle has been circulating since April, with initial reports suggesting Circle had rejected an offer from Ripple between $4 billion and $5 billion, considering it too low. Subsequent rumors inflated this figure to a potential bid of up to $20 billion. However, Garlinghouse’s comments, as summarized by fintech policy expert Chris Brummer, put these higher figures to rest. While he did not disclose exact numbers, Garlinghouse confirmed that Ripple was not pursuing a full takeover of Circle, indicating a much more measured approach to any potential deal.
Circle itself has firmly dismissed the acquisition chatter, focusing instead on its long-term goals. The company recently filed for an initial public offering (IPO) on the New York Stock Exchange, proposing to offer 24 million common shares priced between $24 and $26 each. This move underlines Circle’s commitment to growth and independence in the stablecoin sector.
Beyond addressing acquisition rumors, Garlinghouse shared other significant updates during his conversation at the conference. One notable point was Ripple’s recent acquisition of Hidden Road, a prime brokerage firm. Garlinghouse revealed that this deal reflects Ripple’s broader ambitions beyond simple crypto payments. Ripple aims to integrate its RLUSD stablecoin as a collateral asset within Hidden Road’s prime brokerage services. This positions RLUSD not just as another stablecoin but as an on-ledger collateral asset, representing a foundational infrastructure play for the industry. While such infrastructural moves might seem technical and less exciting to some, Garlinghouse views them as critical for long-term growth.
Another highlight was the statement that the XRP Ledger (XRPL) was selected for Dubai’s innovative real estate tokenization project. The Dubai Land Department, in partnership with Ctrl Alt, the Dubai Future Foundation, and the Virtual Assets Regulatory Authority, will use XRPL to issue tokenized title deeds. Garlinghouse praised Dubai’s efforts, noting that tokenization is moving from theoretical use cases to real-world applications in certain progressive regions, marking a significant step forward for blockchain adoption.
Lastly, Garlinghouse touched on the importance of unity within the broader crypto community. Reflecting on Ripple’s donation of the Skull of Satoshi—a symbolic artifact—to the Bitcoin community, he emphasized the damage caused by ongoing conflicts between various crypto groups. According to Garlinghouse, such divisions only harm the industry’s growth and reputation. He urged all stakeholders in the crypto space to come together to work towards common goals, fostering collaboration instead of rivalry.
In summary, Ripple’s CEO used the platform at the XRP Las Vegas conference to clarify Ripple’s stance on the Circle acquisition rumors, reaffirm the company’s strategic moves with Hidden Road and RLUSD, highlight real-world blockchain applications in Dubai, and call for greater unity across the crypto ecosystem. These insights provide a clearer picture of Ripple’s future direction, signaling its continued commitment to innovation and industry leadership without pursuing a costly acquisition of Circle.
