Crypto payments company Ripple has secured a $200 million debt facility from Neuberger Specialty Finance to expand its institutional prime brokerage platform, the company announced Monday, as demand for professional-grade digital asset services continues to climb.
The financing, provided by funds managed by Neuberger Specialty Finance—the asset-based investment arm of global investment manager Neuberger—will be directed toward Ripple Prime, the company’s multi-asset prime brokerage service that launched from the company’s acquisition of Hidden Road in 2025.
The platform has grown rapidly since the acquisition, tripling its revenue year over year, driven by increasing participation from institutional investors across both traditional and digital markets. Ripple Prime President Noel Kimmel said the arrangement would allow the platform to scale alongside client demand.
“Dependable access to financing and balance sheet strength are critical to institutional participants in today’s dynamic markets,” Kimmel said in a statement. “This facility enables us to grow alongside our clients by delivering increased margin capacity, greater responsiveness, and improved capital efficiency.”
The facility gives Ripple Prime the ability to draw up to the full $200 million as client needs evolve, with proceeds earmarked to extend financing for clients operating across both conventional and digital markets.
“Ripple Prime has built an innovative brokerage platform combining fintech-grade technology and agility with bank-level compliance and operational rigor,” said Peter Sterling, head of Neuberger Specialty Finance, in a statement. “This facility reflects our focus on partnering with market leading platforms and is a testament to Ripple Prime’s unique position at the nexus of traditional and expanding markets.”
XRP, the crypto asset that Ripple’s services are built around, is currently up about 2% on the day at a recent price of $1.46. The asset has climbed by 8.5% in the last month amid a broader crypto market rebound.
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