Ripple vs. Coinbase: The Battle for Circle and the Future of Stablecoins
XRP Futures Launch Signals Strategic Shift as Ripple Eyes $32B Stablecoin Giant
Key Takeaways
- Ripple is reportedly in talks to acquire Circle, the issuer of USDC, the second-largest stablecoin by market cap.
- Coinbase, a partial owner of Circle, may be competing with Ripple for influence over the stablecoin issuer.
- The launch of XRP Futures on the CME marks a major institutional shift, signaling a new phase in Ripple’s growth trajectory.
- Analysts say Ripple could become a central player in global digital finance if the acquisition succeeds.
Ripple’s Circle Ambition: A New Financial Power Grab?
Ripple is aiming higher than ever before. A new report from May 20, 2025, suggests Ripple is currently in advanced acquisition talks with Circle, the firm behind USD Coin (USDC)—a move that would put it in direct competition with Coinbase, which is already a stakeholder and partner of Circle.
This acquisition would mark a major strategic shift for Ripple, which has long focused on cross-border payments using its XRP token. Owning Circle would provide Ripple access to over $32 billion in stablecoin assets and instantly position the company as a major force in the expanding global digital payment infrastructure.
According to U.Today’s coverage, Ripple’s goal is clear: control a stablecoin with deep integration into both decentralized finance (DeFi) and institutional markets, effectively expanding its relevance beyond the XRP ecosystem and into broader fintech and regulatory domains.
Coinbase and Circle: A Complicated Relationship
Coinbase and Circle have historically shared governance over USDC via the Centre Consortium, and although the Consortium has since been dissolved, the ties between the two companies remain strong. Coinbase not only helps manage liquidity and reserves for USDC but also holds a significant stake in Circle.
An acquisition by Ripple could challenge Coinbase’s influence over USDC and put the two American crypto giants on a potential collision course.
Analysts point out that this deal would go far beyond a stablecoin play. It would realign the power dynamics within U.S. crypto infrastructure—pitting Ripple’s growing institutional network against Coinbase’s regulatory influence and exchange dominance.
XRP Futures Launch on CME: Institutional Green Light
Adding to Ripple’s momentum is the recent launch of XRP Futures on the Chicago Mercantile Exchange (CME). This development is being heralded as a critical inflection point for the token, signaling formal entry into the institutional derivatives landscape.
The CME Futures launch provides regulated investment vehicles for hedge funds, asset managers, and banks, opening the door to deeper XRP liquidity and broader market participation. According to analysts, this could be XRP’s “ETF moment,” drawing comparisons to Bitcoin’s 2021 institutional surge.
At the time of writing, XRP is trading at $2.36, up 2.22% over the past 24 hours, with volume exceeding $3.16 billion. Community sentiment remains strongly bullish, with 88% of voters on CoinMarketCap predicting further upside.
What This Means for the Future of Crypto
If Ripple succeeds in acquiring Circle, it will gain access to a stablecoin widely used across DeFi protocols, centralized exchanges, and institutional clearinghouses. Combined with its XRP Ledger infrastructure and expanding tokenization capabilities, Ripple could be poised to build a vertically integrated financial network—rivaling even traditional settlement systems.
Coinbase, for its part, will likely not let this acquisition occur without strategic countermeasures. With its growing presence in Washington D.C., a robust regulatory framework, and plans to roll out its own L2 network, Coinbase remains a formidable force in the evolving Web3 economy.
The stablecoin wars may just be beginning—and at the heart of it all are two of the most powerful entities in the crypto space.
Disclaimer
This article is for informational purposes only and does not constitute financial advice. The views expressed do not reflect investment recommendations. Always conduct your own due diligence before making financial decisions, especially in volatile or speculative markets.
