Rhino.fi introduced a USDT credit facility through the Wildcat protocol on the Plasma network to address liquidity constraints in corporate stablecoin settlements and enable high-value cross-chain transactions. The market launched with $2 million initial capacity and offers lenders a projected 10 percent yield, with capital supporting liquidity for corporate users across the firm's multi-chain ecosystem. Rhino.fi operates with over $15 billion in processed volume for more than 100 corporate clients across 30 networks, serving neobanks, payment processors, and trading platforms including Wirex, Karta, Kettlepay, GRVT, and Extended, handling individual transfers up to $10 million and monthly clearing volumes exceeding $700 million.
Rhino.fi Addresses Corporate Liquidity Bottlenecks With On-Chain Credit Infrastructure
As corporate transaction volumes expand, the primary operational challenge involves sustaining adequate stablecoin liquidity across the specific networks utilized by clients. High-volume corporate entities require immediate fund availability on the correct chain at the exact moment of settlement, rather than waiting for liquidity to materialize post-request.
Previously, Rhino.fi financed these operations exclusively through its internal balance sheet, which restricted settlement capabilities to the firm's deployable internal capital. The integration of the Wildcat market now supplements this by introducing on-chain borrowing to meet active operational requirements.
Will Harborne, CEO and co-founder of Rhino.fi, stated: "In under two years we have gone from a profitable consumer business to settling over $15 billion for enterprises. The only ceiling left is how much liquidity we can put to work. This is the first of several moves to take that ceiling off and scale into the demand in front of us."
The initiative operates on a delta-neutral settlement framework engineered to prevent directional asset risk. By maintaining balanced stablecoin reserves across its infrastructure and shifting them in response to client needs, the firm ensures that USDT borrowed on Plasma is counterbalanced by stablecoin holdings elsewhere in the network. This rebalancing is executed utilizing protocols like LayerZero and Circle's Cross-Chain Transfer Protocol.
Wildcat Protocol Delivers Credit Framework on Plasma Network
The decision to debut the USDT market on Plasma stems from the network's specialization in high-volume stablecoin settlements, robust USDT liquidity, and minimal transaction costs. Rhino.fi maintains an existing partnership with Plasma through PlasmaOne, the network's native neobank, where it facilitates stablecoin onboarding.
Zaheer Ebtikar, CSO of Plasma, stated: "Successful credit markets need deep liquidity, rapid money movement, and low fees. Rhino building one on Plasma is the natural next step toward mature stablecoin finance."
Within this architecture, Plasma supplies the settlement framework while Wildcat delivers the underlying credit infrastructure. This setup enables lenders to transparently monitor market conditions, reserves, and repayment schedules directly on the blockchain. The Wildcat protocol, which was incubated by Wintermute, has previously been utilized by trading entities such as Amber Group, Keyrock, and Selini Capital.
For corporate users, the enhanced liquidity pool is designed to accelerate settlement speeds, increase transaction sizes, and expand operational capacity across various blockchains. Simultaneously, lenders are presented with an opportunity to back a functioning business with verifiable settlement metrics and clear on-chain parameters.
Rhino.fi Plans Multi-Network Credit Expansion
This USDT facility marks the beginning of a wider credit initiative planned for deployment across major networks, including the Ethereum mainnet. Subsequent markets are anticipated to expand in tandem with growing client requirements and the accumulation of verifiable on-chain performance data.
The platform has recorded a fivefold year-over-year increase in total volume, processing individual transfers up to $10 million with monthly clearing volumes surpassing $700 million.
FAQ
What did Rhino.fi launch on the Plasma network?
Rhino.fi launched a USDT credit facility via the Wildcat protocol on the Plasma network with $2 million initial capacity and a projected 10 percent yield for lenders. The facility addresses liquidity constraints in corporate stablecoin settlements and supports high-value cross-chain transactions across the firm's multi-chain ecosystem serving over 100 corporate clients.
How does Rhino.fi's delta-neutral settlement framework operate?
Rhino.fi's delta-neutral settlement framework maintains balanced stablecoin reserves across its infrastructure and shifts them in response to client needs, ensuring that USDT borrowed on Plasma is counterbalanced by stablecoin holdings elsewhere in the network. This rebalancing is executed using protocols like LayerZero and Circle's Cross-Chain Transfer Protocol to prevent directional asset risk.
Why did Rhino.fi choose Plasma for the USDT credit market?
Rhino.fi selected Plasma due to the network's specialization in high-volume stablecoin settlements, robust USDT liquidity, and minimal transaction costs. The firm maintains an existing partnership with Plasma through PlasmaOne, the network's native neobank, where it facilitates stablecoin onboarding.
