Ripple Is Said to Have Offered to Buy Stablecoin Rival Circle

Ripple has proposed a takeover of rival stablecoin provider Circle Internet Group Inc. for $4 billion to $5 billion, a bid that was rejected as too low, according to people familiar with the matter.

While Ripple remains interested in Circle, it hasn’t decided whether to make another offer, said the people, who asked to not be identified because the details aren’t public. For its part, Circle is focused on following through on an initial public offering that it filed for earlier this month, the people added.

“We do not comment on market rumors,” a spokesperson for Circle said in an ...