Ripple CEO Brad Garlinghouse has put to rest the persistent rumors about the company’s alleged bid to acquire stablecoin issuer Circle. During a fireside chat at the recent XRP Las Vegas conference, hosted by fintech policy expert Chris Brummer, Garlinghouse clarified the situation and shed light on Ripple’s strategic direction.
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No $10–$20 Billion Offer for Circle
Speculation surrounding a potential acquisition of Circle by Ripple has been circulating since April, with several reports suggesting that Ripple initially offered between $4 billion and $5 billion—a bid Circle reportedly rejected. Subsequent claims raised the offer to an estimated $10 billion to $20 billion.
However, Garlinghouse directly refuted these figures. As summarized by Brummer on X, the Ripple CEO denied that any such high-value offer had ever been made. While he did not completely dismiss the idea of earlier discussions, Garlinghouse made it clear that Ripple is not currently pursuing an acquisition of Circle.
Circle, for its part, has also dismissed the acquisition rumors. A company spokesperson confirmed that the firm remains focused on its long-term objectives. Notably, Circle recently filed for an IPO on the New York Stock Exchange, offering 24 million Common A shares priced between $24 and $26.
RLUSD and Hidden Road: A Strategic Play
In his conversation with Brummer, Garlinghouse also touched on Ripple’s acquisition of prime brokerage firm Hidden Road. He emphasized that the deal was about more than expansion—it was a strategic move to integrate Ripple’s own stablecoin, RLUSD, as on-ledger collateral for institutional finance.
Describing the initiative as “infrastructural thinking,” Brummer noted that such efforts may not capture mainstream excitement but are essential for building a robust financial ecosystem.
XRPL Chosen for Dubai Real Estate Tokenization
Garlinghouse also highlighted a major development in Ripple’s international ventures: the selection of the XRP Ledger (XRPL) for a real estate tokenization initiative in Dubai. This project, led by the Dubai Land Department in partnership with Ctrl Alt, the Dubai Future Foundation, and the Virtual Assets Regulatory Authority, aims to issue tokenized title deeds on the XRPL network.
According to Garlinghouse, this move marks a significant step in making real-world tokenization a practical reality, particularly in regions that are embracing blockchain innovation.
Call for Unity in the Crypto Space
Concluding the session, Garlinghouse made a strong plea for unity across the crypto industry. Reflecting on Ripple’s symbolic donation of the “Skull of Satoshi” to the Bitcoin community, he argued that infighting among crypto factions only hampers progress. Instead, he urged stakeholders to come together to pursue common goals and drive the industry forward.
