Gemini Draws on Ripple Funding Deal as Exchange Prepares for IPO
Gemini has tapped Ripple Labs for a fresh line of credit as the exchange gears up for its highly anticipated public offering.
Details revealed in the company’s S-1 filing show that Ripple will provide liquidity support through a facility allowing Gemini to borrow in tranches of $5 million or more, with an initial ceiling of $75 million.
The filing confirms that Gemini has already drawn on the arrangement, which carries an annual interest rate of up to 8.5%. The agreement also includes flexibility for expansion, with the credit limit potentially rising to $150 million under certain conditions.
Ripple’s RLUSD Could Gain Adoption
While the first phase of the facility limits borrowing to U.S. dollars, Gemini has the option to access additional loans in Ripple’s RLUSD stablecoin. The token, launched in December, has quickly gained traction, and the partnership could accelerate its role in institutional finance.
IPO Filing Highlights Pressure on Finances
Gemini’s decision comes as the exchange readies for its market debut. The filing reveals $162 million in cash reserves as of mid-2025, set against more than $2 billion in liabilities. The credit agreement is seen as a way to shore up liquidity while positioning the firm for investor scrutiny.
Ripple, meanwhile, has stated it is not pursuing an IPO of its own, focusing instead on acquisitions and ecosystem expansion following renewed momentum in XRP markets.
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Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
