UsDC Stablecoins issuer Circle these days two big crypto companies coinbase and Ripple Has come in the shopping race between. According to a new report, Circle was filed by Circle in April 2025, the IPO (Preliminary Family Providing) was filed, but in the meantime there have been reports that the company had a simple conversation about the potential cell with both Coinbase and Ripple.
$ 5 billion valuation IPO or direct selling?
Circle’s target is to launch its IPO to become a public company, whose valuation is considered to be around $ 5 billion. But according to Fortune’s report, if the right offer is received, the company can choose to sell instead of Circle IPO. A banker even said, “If you want to buy coinbase, the circle will be sold immediately.”
However, Circle has not yet publicized any conditions of its IPO or the date of road show, which keeps the scope of Aquation (purchase).
Coinbase and Circle’s old partnership
Coinbase and Circle’s relationship is not new. In 2018, the two companies launched the USDC Stablecoin, which was brought under the Center Consortium. Although this partnership was generally finished in 2023, business relations between them are still strong.
Coinbase has a stake in Circle and gets 50% of the earnings from the USDC Stock, until it stores on USDC Coinbase, Coinbase gets 100% revenue in that case. This is the reason why coinbase’s earnings have seen a good increase in recent months.
Apart from this, Coinbase also has the right to block any new agreement related to Circle’s USDC Income. Also, if the circle becomes insolvency, the coinbase can also get some control over the highbrow quality of the Circle. This is the reason why a source said, “These two companies look the same.”
Ripple also proposed to buy
Apart from Coinbase, Ripple has also shown its interest in buying Circle. According to the report, some time ago Ripple proposed a deal of $ 4 to $ 5 billion, including both cash and its own cryptocurrency XRP. Although Ripple’s deal was rejected by Circle,
Ripple attempts to further strengthen its impact in this field. Ripple can get a good grip in StableCoin Marketplace by purchasing a big player like circle.
Why is Coinbase being a strong contender?
Coinbase is already a public company and has more options for funding. In the end of March 2025, Coinbase had a $ 8 billion cash. Apart from this, Coinbase has been included in S&P 500 on 19 May 2025, which reflects its financial strength.
“Circle’s IPO will not affect our business partnership at an interview on May 14, CEO Brian Armstrong of Coinbase said. This indicates that the possibilities of the deal are not yet completely over.
Market status and possibilities
Recently, the successful IPO List of Etoro has made the market again attractive. This can also give Circle courage to maintain a public company. But when big players like ripple and coinbase are showing interest, a decision can be taken in any direction.
Conclusion
Circle’s position is at a very important turn at this time. The company can either give a new look to its expansion through a successful IPO or can go in a new strategic direction by dealing with companies like Ripple or Coinbase. Whatever be it, the effect of this deal will definitely be seen on USDC and the entire StableCoin EcoSystem.
