Immy Dorse 
Gemini Secures $75 Million Credit Line from Ripple
Gemini, one of the bigger U.S. crypto exchanges, just locked in a credit deal with Ripple Labs—the blockchain firm behind XRP. According to the exchange’s recent S-1 filing, the agreement lets Gemini borrow money from Ripple when needed, with interest rates topping out at 8.5% annually.
It’s not a blank check, though. The filing shows Gemini can pull funds in chunks of $5 million or more, up to a total of $75 million. But here’s the twist: if certain conditions are met, that limit could double to $150 million. For now, though, it’s strictly cash—no crypto involved.
Could RLUSD Stablecoin Come Into Play?
Right now, the borrowing is dollar-only. But if Gemini taps into the extra $75 million, things might shift. The deal leaves the door open for loans in Ripple’s stablecoin, RLUSD, which launched late last year. That could give the token a boost, though it’s not clear yet whether Gemini will go that route.
It’s an interesting move, especially since stablecoin adoption has been a sticking point for Ripple. Then again, Gemini might prefer sticking to cash. Hard to say.
Gemini’s IPO Plans and Financial Health
This all comes as Gemini is trying to go public. The exchange filed confidentially for an IPO back in June, jumping into a crowded field of companies doing the same. But its S-1, made public last Friday, doesn’t paint the rosiest picture.
In the first half of 2025, Gemini posted heavy losses. Its cash reserves were sitting at around $162 million, while liabilities ballooned past $2 billion. Not exactly smooth sailing. Still, the Ripple credit line might help shore things up—at least for now.
Meanwhile, Ripple itself has been clear: no IPO plans anytime soon. Even as one of the largest private companies in crypto, it’s staying put for the foreseeable future.
So, what does this all mean? For Gemini, it’s a lifeline. For Ripple, maybe a way to push RLUSD further into the market. Or maybe it’s just business as usual—another day in crypto. Either way, it’s worth keeping an eye on.
