Online reports, according to Bloomberg, enterprise-level blockchain company Ripple recently made a $4 - 5 billion acquisition offer to stablecoin issuer Circle, but the latter rejected it. Circle believes the valuation does not reflect its strategic position and growth potential in the cross-border payments space. The USDC stablecoin issued by Circle currently has a market value of more than US$61 billion and is the world's second largest stablecoin. The company filed for an IPO in April 2025 and achieved revenue of US$1.67 billion in 2024. Circle's recently launched Circle Payments Network (CPN) aims to connect global financial institutions through USDC and other regulated stablecoins.