Ripple Secures $75 Million Loan to Support Gemini IPO, Expanding Stablecoin Reach

Cryptocurrency exchange Gemini has filed its IPO application and secured a significant loan of $75 million from Ripple. The agreement highlights the growing role of Ripple’s stablecoin RLUSD in the financial ecosystem. This move comes as Gemini seeks to list on Nasdaq under the symbol GEMI, joining Coinbase and Bullish as public cryptocurrency exchanges. The loan agreement provides flexibility, allowing for up to $150 million with interest rates ranging from 6.5% to 8.5%. This strategic partnership positions Ripple’s stablecoin RLUSD as a viable payment option within a major US exchange.