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Ripple Prime has secured a $200 million debt facility from Neuberger Specialty Finance to expand margin financing for institutional clients across digital asset and traditional markets.
The funding agreement provides Ripple Prime with additional lending capacity as demand grows for prime brokerage services tied to crypto, foreign exchange, fixed income, and other trading markets. Ripple said the facility is intended to support clients seeking larger margin lines, faster financing access, and stronger balance sheet support.
Neuberger Specialty Finance is the asset-based investment arm of Neuberger Berman, a global investment manager with about $570 billion in assets under management. Under the agreement, Ripple Prime can draw up to $200 million as client financing needs change.
Ripple Prime President Noel Kimmel said dependable financing is important for institutions operating in active markets, adding that the facility will help increase margin capacity, improve responsiveness, and support better capital efficiency for clients.
The agreement adds another financing layer to Ripple’s institutional business after the company expanded beyond payments into custody, stablecoins, treasury management, and prime brokerage.
Ripple Prime was formed after Ripple acquired Hidden Road in 2025 and rebranded the business. Hidden Road offered prime brokerage services to institutions trading across traditional and digital asset markets.
Ripple paid $1.25 billion for Hidden Road, one of the largest deals in the crypto industry. The acquisition gave Ripple a direct presence in institutional brokerage, including services such as margin financing, clearing, execution support, and risk management.
Since the acquisition, Ripple said Ripple Prime’s revenue has tripled year over year, attributing the growth to rising institutional demand for professional trading infrastructure across both crypto and conventional markets.
The $200 million facility is designed for margin financing, which allows institutional clients to borrow against assets while trading. Ripple said margin financing can help trading firms increase market exposure, manage liquidity, and support cross-asset strategies.
Ripple said the facility supports clients operating across digital assets and traditional financial markets, aligning with Ripple Prime’s multi-asset model. Peter Sterling, head of Neuberger Specialty Finance, said Ripple Prime combines fintech technology with compliance and operational controls, and that the facility reflects Neuberger’s focus on working with market platforms serving both traditional and expanding markets.
The company also framed the agreement as part of Neuberger Specialty Finance’s plan to support institutional growth with a stronger balance sheet.
The Ripple Prime facility comes as major financial firms increase activity in digital assets. State Street has announced a digital asset platform, while Standard Chartered has been preparing a crypto prime brokerage business.
Ripple also said it has raised additional capital to support its broader expansion. The company recently secured $500 million at a $40 billion valuation, with backing from firms including Fortress Investment Group and Citadel Securities.
Ripple said that funding has supported its push into custody, stablecoins, and prime brokerage. The company also agreed to buy treasury management software provider GTreasury for $1 billion.
Ripple’s institutional strategy, according to the company, now extends beyond payments into brokerage, financing, custody, tokenized assets, and treasury management.
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