Scaling Enterprise Settlements: Rhino.fi Deploys On-Chain Credit Infrastructure To Overcome Stablecoin Liquidity Bottlenecks
In Brief
Rhino.fi launches a USDT credit market on Plasma to solve enterprise stablecoin liquidity bottlenecks and scale cross-chain settlements.
Rhino.fi has introduced its inaugural USDT credit facility via the Wildcat protocol on the Plasma network, aiming to resolve liquidity constraints in corporate stablecoin settlements and facilitate high-value cross-chain transactions.
The newly established market launches with a $2 million initial capacity and offers lenders a projected 10 percent yield. The acquired capital will bolster the liquidity required to serve corporate users and execute settlements across the firm’s multi-chain ecosystem. Operating with a track record of over $15 billion in processed volume for more than 100 corporate clients across 30 networks, the platform serves neobanks, payment processors, and trading platforms such as Wirex, Karta, Kettlepay, GRVT and Extended. The platform handles individual transfers up to $10 million, with monthly clearing volumes surpassing $700 million and a fivefold year-over-year increase in total volume.
“In under two years we have gone from a profitable consumer business to settling over $15 billion for enterprises,” said Will Harborne, CEO and co-founder of Rhino.fi in a written statement. “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,” he added.
Transitioning to On-Chain Credit Infrastructure
As corporate transaction volumes expand, the primary operational hurdle 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. This 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.
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.
“Successful credit markets need deep liquidity, rapid money movement, and low fees,” said Zaheer Ebtikar, CSO of Plasma in a written statement. “Rhino building one on Plasma is the natural next step toward mature stablecoin finance,” he added.
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. 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.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
