According to Gemini's S-1 filing, one of the leading US exchanges has entered into a credit agreement with enterprise blockchain company Ripple Labs. The agreement makes it possible for Gemini to draw funds from Ripple via a credit facility. Gemini's borrowings will bear interest of up to 8.5% per year. $75 million borrowing cap The aforementioned S-1 filing shows that Gemini is already using the credit line for liquidity purposes. The exchange can borrow in increments of $5 million or more from a total sum of $75 million. However, the initial cap can be increased up to $150 million based on certain conditions. RLUSD as borrowing option Within the initial $75 million cap, Gemini can only borrow directly in the US dollar. However, if Gemini decides to take out additional loans, it might borrow these funds in the Ripple USD (RLUSD) token, the red-hot stablecoin that was launched by the company in December. Hence, the deal could potentially be used for enhancing the token's adoption. Gemini's IPO As reported by U.Today, Gemini confidentially filed to go public in June, joining a slew of other companies. The company's S-1 filing, which was unveiled on Friday, shows that the company suffered heavy losses in the first half of 2025. The company's cash reserves stood at roughly $162 millin as of mid-2025, with its liabilities surpassing $2 billion. Meanwhile, Ripple recently clarified that it had no IPO plans in the near future despite being one of the biggest private companies.