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Ripple has secured a $200 million funding agreement with Neuberger Berman to expand its prime brokerage services, increasing margin capacity across both traditional and digital asset markets. The company said the facility will strengthen liquidity and operational capacity as institutional demand for brokerage services continues to rise.
Ripple confirmed it closed the $200 million funding facility with Neuberger Berman on Monday. The capital will be used to expand margin offerings across traditional and digital assets, with executives describing the agreement as supportive of liquidity and operational capacity for Ripple Prime.
Noel Kimmel, President of Ripple Prime, said dependable access to financing and balance sheet strength are critical for institutional participants. He added that the facility will increase margin capacity and improve capital efficiency. Kimmel also said Neuberger Specialty Finance brings expertise in asset-based finance and understands Ripple Prime’s services and operating model.
Ripple Prime was formed after Ripple rebranded Hidden Road as Ripple Prime following Ripple’s acquisition of Hidden Road in 2025. Ripple reported that platform revenue has tripled year over year since the acquisition, and said it paid $1.25 billion for Hidden Road. The Hidden Road deal was described as among the largest transactions in cryptocurrency industry history.
In addition, Ripple later agreed to acquire GTreasury for $1 billion to expand its treasury services.
Peter Sterling, Head of Neuberger Specialty Finance at Neuberger Berman, said Ripple Prime built an “innovative brokerage platform” combining fintech technology with compliance standards. Sterling emphasized the firm’s operational rigor and agility.
Neuberger Berman manages approximately $570 billion in total assets under management and operates across multiple asset classes and global markets.
Ripple also raised $500 million earlier at a $40 billion valuation, with Fortress Investment Group and Citadel Securities backing the round. Ripple said it used that capital to expand custody, stablecoins, and brokerage services.
Executives said the new financing is intended to align financing capacity with institutional client growth and support continued expansion of Ripple Prime’s multi-asset brokerage platform, which combines fintech systems with bank-level compliance standards.
Kimmel said the facility enables Ripple Prime to grow alongside institutional clients, delivering greater responsiveness and expanded margin access.
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