Stablecoin Emier Circle, which requested an initial public offer (OPI) last month, has explored the alternative of a sale to Crypto Exchange Coinbase (COIN) or a Ripple payments company, according to a Monday report from Fortune.
The USDC issuer, based in New York, the second largest Stablecoin, participated in informal conversations about a possible sale of which he was looking for at least $ 5 billion, Fortune reported, citing the people who asked not to be identified.
This figure would be in line with the valuation of the company by the investment banks JPMorgan and Citi, which Circle had hired to help with the OPI.
Coinbase has a minority participation in Circle, and the two companies share income from reserve interest income of the USDC. Ripple recently debuted his own Stablecoin, Rlusd. Bloomberg reported an offer from Ripple to Buy Circle, Bloomberg reported last month.
Circle said in a statement sent by email that “it is not for sale” and remains committed to go public, said Fortune. The company aborted an earlier attempt to make public through a fusion of the Special Purpose Acquisition Company (SPAC) in 2021.
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