The Gemini platform disclosed its S-1 document submitted to the U.S. Securities and Exchange Commission revealing that it has secured a revolving credit line backed by Ripple for $75 million, which can increase to $150 million under certain conditions. Gemini plans to go public on Nasdaq under the ticker GEMI, led by Goldman Sachs and Citibank, with proceeds directed towards debt repayment and general operational purposes.
The platform reported revenues of $68.6 million against a net loss of $282.5 million during the first half of 2025, despite having a user base of 14.6 million users and assets under management estimated at $12 billion. The credit line from Ripple aims to enhance liquidity and represents a precedent in the integration of stablecoins within regulated credit instruments.
Gemini is preparing to join publicly available trading platforms like Coinbase and Bullish, although it has not yet announced details regarding the price range or expected offering size. It is worth noting that the price of XRP at the time of the news release was $2.99.
