Gemini Secures $150M Credit Line with Ripple Ahead of Planned IPO

Gemini, the cryptocurrency exchange, has disclosed a significant credit line agreement with Ripple in its recent S-1 filing with the U.S. Securities and Exchange Commission (SEC). The deal outlines a $75 million base commitment, expandable by increments of over $5 million each funding round, reaching up to $150 million overall. This agreement allows Gemini to borrow from Ripple once the initial commitment is reached, with the loan collateralized and carrying an interest rate range of 6.5%-8.5% per annum.