TLDR
- Ripple issued Gemini a $75M revolving credit line, expandable to $150M.
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Additional draws may use Ripple’s regulated RLUSD stablecoin.
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Gemini and Ripple align with EU MiCA compliance via new licenses.
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XRP-backed card by WebBank launches with $75M in Ripple-supplied liquidity.
Gemini has secured a $75 million revolving credit facility from Ripple as it prepares to go public on NASDAQ. The arrangement, filed with the U.S. Securities and Exchange Commission (SEC), allows the line to expand up to $150 million. The initial loan features interest rates of 6.5% or 8.5%, depending on the collateral. Minimum draws are set at $5 million.
The partnership includes an option for Gemini to draw additional funds in RLUSD—Ripple’s regulated stablecoin. While not mandatory, the RLUSD component allows Ripple to integrate its stablecoin into a regulated exchange’s financial structure. Crypto researcher @WKahneman shared the filing details with his 84,000 followers, noting the credit line’s unique structure.
RLUSD Stablecoin and Regulatory Positioning
RLUSD, launched earlier this year by Ripple, is presented as a stable and regulation-compliant digital asset. Though Gemini is not required to use RLUSD, its availability in the credit arrangement adds flexibility. It may be especially relevant if USDT or other stablecoins face restrictions in future regulatory frameworks.
Both Ripple and Gemini are taking steps to comply with European Union regulations. Gemini recently received a Markets in Crypto-Assets (MiCA) license in Malta, while Ripple applied for a MiCA Electronic Money Institution (EMI) license through its Luxembourg entity in July. This regulatory alignment may position both firms favorably for broader market access in the EU.
Unpacking the #Ripple/Gemini news. What exactly is going on? The whole may be greater than the sum of it’s parts. (It gets weird in #5) This week has brought interesting news to ponder if this is more than just a loan ⤵️
1/8 pic.twitter.com/QwkliF0I5u— WrathofKahneman (@WKahneman) August 23, 2025
In parallel with the credit deal, Ripple is backing the launch of a retail XRP card issued by WebBank. The product is supported by $75 million in liquidity, further connecting Ripple’s assets to real-world use cases.
According to information shared by XRP community sources, the XRP card is set for release on August 25. The product links back to Ripple’s broader ecosystem, potentially driving retail engagement with XRP and RLUSD.
Gemini IPO Moves Forward Despite Heavy Losses
Despite losses exceeding $282 million in the first half of 2025, Gemini is moving forward with plans to go public. Its IPO preparations have drawn attention, especially as it balances liabilities of over $2 billion with current reserves of just $161 million.
The Ripple credit facility may help bolster Gemini’s liquidity as it seeks investor confidence. According to filings, the firm has positioned the credit as a strategic move to strengthen its financial standing pre-IPO.
Community observers, including @WKahneman, believe the Ripple-Gemini partnership is more than a financing deal. He pointed out that the appearance of RLUSD in SEC filings enhances the stablecoin’s legitimacy and market exposure. He also noted the synchronized regulatory activity as a possible signal of broader coordination between the two firms.
