At the XRP Las Vegas conference today, on June 4, Ripple CEO Brad Garlinghouse emphatically denied that Ripple ever tried to acquire Circle, the company behind the USDC stablecoin.
In a fireside chat with fintech policy expert Chris Brummer, Garlinghouse confirmed that no $10 to $20 billion offer was ever made. Garlinghouse expressed support for Circle but said he did not consider an acquisition.
He also discussed Ripple’s broader goals in tokenisation, the recent progress of its own stablecoin RLUSD, and the need for unity in the crypto industry.
Rumours and Denial
Rumours first surfaced in April that Ripple had offered between $4 billion and $5 billion for Circle. These reports gained traction as Circle was preparing its public offering.
During the session, Brummer noted that Garlinghouse “refuted” any such bid. Some listeners suggested Garlinghouse may have meant Ripple never offered $10 to $20 billion, leaving open the possibility of a lower proposal.
Regardless, Garlinghouse’s main point was clear by saying, while he wished Circle well, he never pursued buying the stablecoin issuer.
Also Read: Ripple Renews Call for Digital Asset Guidelines in Latest SEC Letter
Ripple’s Growth and Acquisitions
Instead of chasing another stablecoin maker, Ripple has focused on building its own infrastructure. Garlinghouse pointed to Ripple’s recent purchase of Hidden Road, which hints at deeper ambitions.
He explained that RLUSD, Ripple’s new stablecoin, is designed as on-ledger collateral to be settled on the XRP Ledger. In regulatory news, Ripple announced that RLUSD has received official recognition as a regulated crypto token from the Dubai Financial Services Authority.
This marks a significant step for RLUSD and shows that Ripple aims to expand beyond payments into wider tokenised assets.
Industry Outlook and Tokenisation
Garlinghouse highlighted Ripple’s work in tokenised real estate, mentioning engagement with authorities in the UAE. He said tokenisation is not just theory but an ongoing experiment with prime assets in some regions.
For Garlinghouse, the future lies in blending traditional finance and digital assets. He sees tokenised assets, stablecoins, and banks working together.
In his view, the next wave of acquisitions will not only include AMMs or launch platforms, but also prime brokerage services, payment processors, and other companies that bridge old and new financial systems.
Crypto Unity and Community Gesture
During the event, Garlinghouse addressed the damage caused by public disputes among crypto networks. He referred to Ripple’s donation of the “Skull of Satoshi” to the Bitcoin community as a diplomatic gesture, not merely a marketing stunt.
His message urged greater unity within the industry, warning that ongoing conflicts only slow progress. He shared a candid anecdote about visiting the SEC, underscoring that there are real people behind regulatory conversations.
Circle’s IPO and Industry Moves
Circle itself has dismissed any talks of selling to Ripple or Coinbase.
The stablecoin issuer has filed for an initial public offering on the New York Stock Exchange, planning to offer 24 million shares priced between $24 and $26. This move signals Circle’s confidence in its standalone value rather than seeking an acquisition.
XRP’s Price Actions
Ripple’s native token, XRP, is trading at $2.26, up nearly 3% in the last 24 hours.
Its global market cap stands at $132.96 billion, while trading volume has risen by 1.15% over the same period. These figures reflect growing interest in XRP as Ripple continues to expand its reach in tokenisation and payments.
Garlinghouse’s clear denial of any acquisition attempt ends weeks of speculation and refocuses attention on Ripple’s initiatives. With RLUSD gaining regulatory recognition and Ripple exploring tokenised real estate, the company hopes to lead in creating a hybrid world of traditional finance and blockchain.
Also Read: Ripple Highlights Potential Of Blockchain In Cross-Border Payments With XRP & RLUSD