TechFlow, on May 20, according to Cointelegraph, USDC stablecoin issuer Circle is planning an initial public offering (IPO) and is also holding informal talks with Ripple and Coinbase regarding potential acquisition deals, Fortune reported. Circle is seeking a valuation of at least $5 billion, consistent with its IPO target. Ripple previously made an offer of $4–5 billion on April 30, which Circle rejected as undervalued. If an acquisition proceeds, Ripple would pay in cash and XRP, while Coinbase might use cash and stock. Coinbase and Circle have collaborated since 2018, co-founding the Centre Consortium to establish stablecoin standards. Circle originally aimed to complete its IPO by April 2024 but may delay due to economic uncertainty.
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