- Ripple has denied rumors of a multibillion-dollar bid to acquire Circle, while celebrating regulatory approval for its RLUSD stablecoin by Dubai’s DFSA, allowing use by over 7,000 firms.
- RLUSD’s expansion marks a major step in Ripple’s strategy to merge blockchain and traditional finance through compliant, utility-driven stablecoin adoption.
Ripple Shuts Down Acquisition Rumors
Ripple has firmly denied reports of a multibillion-dollar acquisition bid for Circle, the issuer behind the USDC stablecoin. Speaking during the Ripple Las Vegas conference, CEO Brad Garlinghouse made it crystal clear: “Ripple never pursued an acquisition of Circle.” The statement directly contradicts a recent Bloomberg report claiming Ripple offered between $4 billion and $5 billion for Circle—an offer allegedly rejected.
Georgetown Law professor Chris Brummer, who spoke with Garlinghouse at the event, shared the denial publicly, stating that while Garlinghouse respects Circle’s work, an acquisition was never on the table. Meanwhile, Circle continues to move toward its IPO, seeking to raise up to $896 million on the New York Stock Exchange.
RLUSD Approved by Dubai’s Top Regulator
While squashing acquisition rumors, Ripple is celebrating a major win for its RLUSD stablecoin. The Dubai Financial Services Authority (DFSA) has approved RLUSD for use within the Dubai International Financial Centre (DIFC). This means over 7,000 DFSA-licensed firms can now legally integrate RLUSD into their operations—from payroll to global payments.
Monica Long, Ripple President, hailed the approval as a pivotal moment: “This positions RLUSD not just as a compliant stablecoin, but as a high-utility asset that meets the standards of two of the world’s most rigorous financial markets.”
Already regulated by the New York Department of Financial Services (NYDFS), RLUSD is now among the few stablecoins with dual US and UAE regulatory backing.
Ripple’s Vision: Stablecoins That Bridge TradFi and Blockchain
Launched in April 2024 and backed by US dollar deposits and short-term Treasuries, RLUSD may still be small compared to USDC’s $61 billion market cap. However, it plays a strategic role in Ripple’s broader goal: creating a hybrid financial ecosystem where stablecoins serve as a bridge between blockchain infrastructure and traditional finance.
Ripple’s recent acquisition of Hidden Road—a credit network clearing over $3 trillion annually—further shows that the company is betting on utility, not flashy deals.
What’s Next for RLUSD?
With UAE approval in hand, XRP is expected to accelerate RLUSD’s rollout across the Middle East, starting with DIFC-based fintechs, banks, and global settlement providers. Talks are already underway, signaling a rapid shift in how institutional players may adopt stablecoins.
