Ripple, the company behind the cryptocurrency XRP, has caught attention after investor Omar shared information about a credit agreement with the Gemini exchange, indicating Ripple's shift towards multi-layered financial services.
Credit Agreement with Gemini
According to the agreement, Ripple is set to act as a financial backer, allowing Gemini to borrow up to $75 million, with a minimum borrowing request of $5 million.
Ripple's New Financial Initiatives
Omar noted that Ripple is actively making strides in the financial services sector, acquiring various companies and technologies. Over the past 1.5 years, Ripple has acquired a broker (Hidden Road), a payment service provider (Rail), and launched its own stablecoin (RLUSD). These moves indicate that Ripple is focused on creating a complete financial infrastructure by integrating various elements into a single ecosystem.
XRP's Market Outlook
Currently, XRP remains stable, trading above the $3 level. Despite some volatility, cryptocurrency holders are optimistic about XRP's future, expecting it to show gains soon.
With the credit agreement with Gemini, Ripple continues to expand its financial services, which may change the cryptocurrency market landscape and strengthen XRP's position in global financial infrastructure.
