Ripple CEO Brad Garlinghouse has denied recent talks surrounding Ripple’s interest in acquiring Circle, the issuer of USDC. This clarification came during a Las Vegas event earlier this week, putting an end to weeks of speculation. Garlinghouse emphasized that Ripple was not pursuing the acquisition of Circle, despite various media

• Ripple denies a $5 billion offer to acquire Circle, confirming no intentions to pursue the deal.
• Ripple’s future strategy focuses on building stablecoin infrastructure and collaborating with traditional finance.

Ripple CEO Brad Garlinghouse has denied recent talks surrounding Ripple’s interest in acquiring Circle, the issuer of USDC. This clarification came during a Las Vegas event earlier this week, putting an end to weeks of speculation. Garlinghouse emphasized that Ripple was not pursuing the acquisition of Circle, despite various media reports.

In late April, a report by Bloomberg stated that Ripple had made a $5 billion offer to acquire Circle, but the offer was rejected. Ripple’s CEO later confirmed these claims, stating that Ripple had no intentions of acquiring Circle. Reports followed that both Ripple and Coinbase were in informal talks with Circle about a potential purchase. However, in late May, Circle issued a public statement confirming it was not for sale.

Circle is preparing for its initial public offering (IPO), targeting a $7.2 billion valuation. This comes after the rumors of Ripple’s potential acquisition. Garlinghouse wished Circle well ahead of its IPO but reaffirmed that Ripple was not considering the acquisition. The company behind USDC will soon trade under the ticker CRCL.

Ripple’s Future Strategy

Ripple’s actions and statements reveal a different path forward. According to a Georgetown Law professor, Garlinghouse pointed out that Ripple’s focus is on building itself rather than acquiring other established companies. Ripple has been working on the RLUSD stablecoin, designed for on-ledger collateral recorded on the XRP Ledger. Ripple is also pursuing tokenized real estate projects in the UAE.

Ripple’s vision is to work alongside traditional finance, not replace it. Garlinghouse has stressed that Ripple’s goal is to create a hybrid system. This system integrates cryptocurrencies, like stablecoins and tokenized assets, with traditional banking institutions. Ripple’s future acquisitions are expected to focus on prime brokerages, fiat on-ramps, and payment processors, according to sources familiar with the matter.

Garlinghouse’s Call for Unity

Garlinghouse also took the opportunity to urge the crypto community to work together. He spoke about the importance of avoiding public attacks among projects. Ripple’s point of gifting the Satoshi skull was presented as a diplomatic move, rather than a marketing tactic.

Additionally, he stated his prior ordeal with the SEC, sharing tips on the ongoing process. As Ripple moves forward, the company’s focus remains on collaborating with traditional financial institutions, ensuring its products enhance the existing financial system rather than replacing it.

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