In 2025, Ripple made a big move to grow its business by trying to buy Circle, the company that created and manages the USDC stablecoin. USDC is one of the largest digital dollar tokens in the world, with around $61 billion in circulation. Ripple’s goal with the possible deal was to expand beyond its usual services, like cross-border payments, and become more active in the stablecoin market.
Ripple Offers $5B for Circle in Major Stablecoin Move
In April 2025, Ripple offered to buy Circle for between $4 billion and $5 billion. However, Circle turned down the offer, showing that It wanted to stay independent and continue building on its own. The news of Ripple’s interest in Circle caught the attention of people across the crypto industry since a deal of that size could have major effects on the stablecoin market and how digital finance continues to grow.
Circle’s Plan to Go Public
Even though it rejected Ripple’s offer, Circle decided to move ahead with plans to become a public company. On April 1, 2025, Circle officially filed paperwork with the U.S. Securities and Exchange Commission (SEC) to begin the process. The company plans to list its stock on the New York Stock Exchange using the ticker symbol “CRCL.” Circle is aiming for a company value between $4 billion and $5 billion—about the same as Ripple’s offer.
By going public, Circle hopes to raise money and grow while keeping control of its business. Listing on the stock market would give Circle more visibility and help it build trust with investors and partners. If the public offering goes well, Circle could become an even bigger force in the world of stablecoins and digital payments.
Coinbase and Ripple Race to Buy Circle
Coinbase and Ripple quickly compete to buy Circle, the company behind the USDC stablecoin. At the end of April, Ripple offered $4 to $5 billion for Circle, but now the bids have jumped to between $9 billion and $11 billion. Ripple wants to buy Circle to grow its stablecoin business and offer more services beyond payments.
On the other hand, Coinbase hopes that owning Circle will help it become a stronger crypto exchange with more stablecoin options for its customers. This fast-growing bidding war shows how important Circle is in digital money.
Ripple’s 2025 Expansion Strategy
This new development fits into Ripple’s wider effort to grow its presence across the blockchain industry. In one of its major deals earlier in 2025, Ripple acquired Hidden Road, a digital asset prime brokerage, for roughly $1.25 billion. That acquisition marked a key step in Ripple’s push to build a more complete financial ecosystem, and the potential addition of Circle could further expand Ripple’s influence in the digital currency space.
Ripple’s Move to Boost Trust
Ripple plans to go public to get more investors and build trust in the market by being more open and clear about its business. When a company goes public, it has to share regular updates about its finances and activities, which helps investors understand it better. This clear information can attract big investors like banks and funds who want to invest in companies that follow rules and are honest. Ripple hopes to become more trusted and grow faster in digital payments by going public.
Final Thoughts
Ripple made big moves in 2025 to grow its business and become more than just a cross-border payments company. It tried to buy Circle, the company behind USDC, and Hidden Road to build a bigger financial network. Even though Circle decided to stay independent and go public on its own, Ripple’s actions show it wants to be a trusted and open company that attracts more investors. These efforts help Ripple get ready to grow faster and play a bigger role in the world of digital money and blockchain.
