StableCOin Essuer Circle, which submitted an initial public offer (IPO) last month, has investigated the alternative to a sale to Crypto Exchange Coinbase (Coin) or Payments Company Ripple, according to a Monday report from Fortune.
The New York-based issue of USDC, the second largest stableecoin, participated in informal conversations about a potential sale from which it sought at least $ 5 billion, reported Fortune, referring to people who asked not to be identified.
This figure would be a line with the company’s valuation of investment banker JPMorgan and Citi, which Circle had hired to help with the IPO.
Coinbase has a minority share in Circle, and the two companies share revenue from USDC’s reserve interests. Ripple recently debuted his own stableecoin, RLUSD. An offer from Ripple to buy Circle was rejected, Bloomberg reported last month.
Circle said in an E -Mail statement that it “is not for sale,” and remains obliged to become public, Fortune said. The company aborted a previous attempt to publish via a Special Purpose Acquisition Company (SPAC) merger in 2021.
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