{"id":42872,"date":"2025-08-19T08:16:49","date_gmt":"2025-08-19T08:16:49","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=42872"},"modified":"2025-08-19T08:16:49","modified_gmt":"2025-08-19T08:16:49","slug":"ripple-extends-75m-credit-facility-to-gemini-as-exchange-pursues-ipo","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=42872","title":{"rendered":"Ripple Extends $75M Credit Facility to Gemini as Exchange Pursues IPO"},"content":{"rendered":"<div>\n<p>Gemini\u2019s <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/2055592\/000110465925079323\/tm255912-12_drsa.htm\">long-awaited IPO filing<\/a> drew fresh attention to payments giant Ripple, with the exchange disclosing a $75 million credit line from the company alongside a steep financial loss.<\/p>\n<p>In documents submitted to the U.S. Securities and Exchange Commission (SEC) on Aug. 15, Gemini revealed a $282.5 million net loss for the first half, an almost seven-fold increase from the $41.4 million shortfall a year earlier. Revenue fell to $67.9 million from $74.3 million. <\/p>\n<p>The filing puts Gemini, which plans to use the ticker &#8220;GEMI&#8221; on Nasdaq, in line to become the third crypto exchange to trade publicly in the U.S. after Coinbase (COIN), which <a href=\"https:\/\/www.coindesk.com\/markets\/2021\/04\/14\/coinbase-direct-listing-gets-100b-valuation-as-share-price-jumps-in-nasdaq-debut\">debuted on Nasdaq<\/a> in 2021, and Bullish (BLSH), the owner of CoinDesk, whose shares <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/08\/13\/crypto-exchange-bullish-shoots-above-usd100-as-shares-debut-more-than-doubling-ipo-price\">listed on the New York Stock Exchange<\/a> a week ago.<\/p>\n<p>Ripple\u2019s role in the listing stood out. In the filing, Gemini said it entered a credit agreement with Ripple Labs in July granting access to up to $75 million in loans, with the option to extend the facility to $150 million if certain metrics are met.<\/p>\n<p>Each drawdown must be at least $5 million and carries interest of either 6.5% or 8.5%, secured against collateral.<\/p>\n<p>In addition, once borrowing surpasses the initial $75 million, requests can be denominated in Ripple\u2019s dollar-backed RLUSD stablecoin. As of the filing date, however, no borrowings had been drawn under the facility<\/p>\n<p>The credit deal with Gemini puts RLUSD directly in the mix as a settlement option for a major U.S. trading platform \u2014 an early indication that Ripple wants its stablecoin to compete alongside the two market leaders, Tether&#8217;s USDT and USDC, issued by Circle Internet (CRCL).<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gemini\u2019s long-awaited IPO filing drew fresh attention to payments giant Ripple, with the exchange disclosing a $75 million credit line from the company alongside a steep financial loss. In documents submitted to the U.S. Securities and Exchange Commission (SEC) on Aug. 15, Gemini revealed a $282.5 million net loss for the first half, an almost [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-42872","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/42872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42872"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/42872\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}