Inside Ripple-Gemini Developments: Community Opinion

Prominent XRP community enthusiast who goes by @WKahneman unveils how MasterCard’s XRP card announcement and its SEC filing can be connected through a nine-digit credit line opened by Ripple. Also, this development might be a showcase for Ripple USD (RLUSD) as an institutional-grade asset.

Gemini borrows $75 million from Ripple ahead of IPO, RLUSD stablecoin involved

Gemini, one of the biggest cryptocurrency ecosystems in the U.S., mentioned a $75 million credit line opened by Ripple in its IPO filings with the SEC. The program can be expanded to $150 million, while additional draws might be completed with the usage of the Ripple USD (RLUSD) stablecoin.

These facts were noticed by pseudonymous Ripple and XRP observer who goes by @WKahneman. The expert shared them in a thread with his 84,000 followers on X.

While borrowing money pre-IPO looks regular to the observer, the potential utilization of RLUSD, the first major regulated stablecoin, is pretty unusual. In the future, this could contribute massively to the recognition and distribution of RLUSD.

Then, both Gemini and Ripple are simultaneously gearing toward regulatory compliance in the EU. While Gemini has just received a MiCA license in Malta, Ripple, via its new Luxembourg unit, applied for a MiCA EMI license in July.

Last but not least, the newly-announced XRP bank card by WebBank is backed by $75 million liquidity. The launch slogan hints at Aug. 25 as the day of the product’s release. 

Gemini plans to go public despite massive losses in H1, 2025

As such, Ripple might be a huge beneficiary of the deal with Gemini and the upcoming IPO. The retail XRP card and the unique use case for RLUSD might be only the beginning of the story.

As covered by U.Today previously, Gemini is preparing for an IPO on NASDAQ. The platform is joining the club of crypto companies going public despite heavy losses in H1, 2025.

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The company reported a huge net loss of $282 million, which is a massive increase compared to over $40 million in previous reports. Also, the company cash reserves only total $161 million with liabilities exceeding $2 billion, U.Today previously reported.