Ripple CEO Brad Garlinghouse has clarified the swirling rumors about the company’s alleged bid to acquire USDC stablecoin issuer Circle.
In an X post yesterday, fintech policy expert Chris Brummer summarized key takeaways from his fireside chat with Garlinghouse during the XRP Las Vegas conference.
According to the summary, Garlinghouse and Brummer discussed Ripple’s future direction and addressed rumors surrounding a potential acquisition of Circle.
Rumors of Ripple’s interest in acquiring Circle have been circulating since April. Multiple reports suggested that Circle rejected an initial offer from Ripple in the range of $4 billion to $5 billion, deeming it insufficient. Notably, subsequent reports claimed that Ripple raised its offer to between $10 billion and $20 billion.
Ripple Never Offered $10-$20B for Circle
However, according to Brummer, Garlinghouse refuted this claim at the XRP Las Vegas conference, denying that Ripple ever offered $10–$20 billion to acquire Circle.
While his statement implied that Ripple may have made an offer at some point, he did not disclose specific financial details. According to Brummer, Garlinghouse indicated that Ripple was not pursuing an outright takeover of Circle.
In the meantime, Circle has dismissed reports about potential plans to sell itself to Ripple. A spokesperson affiliated with the stablecoin issuer revealed that the company is currently focused on its long-term goals.
Weeks after denying the acquisition rumors, Circle filed for an IPO on the NYSE, offering 24 million Common A shares at $24 to $26 each.
Other Major Key Points From Garlinghouse
Meanwhile, Brummer also shared other key points Garlinghouse made at the conference.
RLUSD’s Use in Hidden Road
According to Brummer, Garlinghouse hinted that Ripple’s acquisition of Hidden Road signals deeper ambitions. The deal, which would see Hidden Road utilize RLUSD as a collateral asset for its prime brokerage services, signals Ripple’s intent to position RLUSD as an on-ledger collateral, not just another stablecoin.
Brummer described this approach as “infrastructural thinking,” perhaps unexciting to some, but foundational for the industry.
XRPL’s Selection in Dubai Real Estate Tokenized Project
Additionally, the Ripple CEO also commented on the selection of the XRP Ledger (XRPL) for Dubai’s real estate tokenization project. The Dubai Land Department, in collaboration with Ctrl Alt, the Dubai Future Foundation, and the Virtual Assets Regulatory Authority, would issue tokenized title deeds on XRPL.
Reacting, Garlinghouse asserted that tokenization is transitioning into a practical experiment in some regions like Dubai.
Unity in Crypto
Furthermore, the Ripple CEO also advocated for unity across the broader crypto space as he weighed in on the company’s donation of the Skull of Satoshi to the Bitcoin community.
In his view, the continuous conflict between crypto communities yields no positive results but harms the entire industry. Hence, he encouraged the industry to unite in achieving shared goals.
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