Ripple’s CEO Brad Garlinghouse has officially dismissed ongoing speculation regarding a potential acquisition of stablecoin issuer Circle, thereby putting an end to weeks of rumors that suggested a substantial bid from Ripple.
Garlinghouse clarified that Ripple did not seek to make an offer in the range of $10 to $20 billion for Circle. During a fireside chat at the XRP Las Vegas conference, he emphasized that the company remains steadfast in pursuing its own growth rather than engaging in acquisition talks. Circle, for its part, also reiterated its focus on moving forward with its plans for an initial public offering (IPO) and responding to the acquisition rumors.
The speculation about a prospective deal first emerged back in April when reports indicated that Ripple was considering an initial offer between $4 billion and $5 billion for Circle. Subsequent claims suggested that this figure could have risen to as much as $20 billion. Though Garlinghouse did not confirm whether any offer had been made, he clearly stated that Ripple was not interested in an outright acquisition of the company.
Circle has since distanced itself from these rumors, affirming its commitment to its long-term strategies, including its recent filing for an IPO on the New York Stock Exchange. The company aims to offer 24 million shares within a price range of $24 to $26 each.
In addition to addressing acquisition speculation, Garlinghouse shed light on various significant initiatives during the conference. He discussed Ripple’s recent acquisition of prime brokerage firm Hidden Road, which highlights Ripple’s goal of advancing its RLUSD token as a critical asset for on-ledger collateral.
Hidden Road is expected to incorporate RLUSD into its range of services, a strategic move that Garlinghouse described as part of a comprehensive approach to enhancing the overall crypto ecosystem. He also underscored the increasing importance of tokenization in real-world applications, specifically noting Dubai’s use of the XRP Ledger (XRPL) for a major real estate tokenization project.
This initiative, in collaboration with the Dubai Land Department, the Dubai Future Foundation, and the Virtual Assets Regulatory Authority, aims to issue tokenized property title deeds on the XRPL. Garlinghouse hailed the project as a clear example of how tokenization is transitioning from theory into actual practice.
Lastly, Garlinghouse called for greater collaboration within the cryptocurrency industry. He referenced Ripple’s recent donation of the “Skull of Satoshi” to the Bitcoin community as a symbolic effort to foster unity. He cautioned that ongoing disputes among different factions in the crypto space could impede the industry’s progress. Additionally, reports revealed that VivoPower, a publicly traded energy company, is investing $121 million in XRP as part of its strategic reserve, thus becoming the first company with a treasury dedicated to XRP.
