In short
- Ripple has secured a $200 million debt facility from Neuberger Specialty Finance to expand Ripple Prime, its institutional prime brokerage platform.
- Ripple Prime has tripled revenue year over year since Ripple acquired Hidden Road in 2025, fueled by growing institutional demand for digital asset services.
- The funds will expand Ripple Prime’s lending capacity to customers active in traditional and digital markets.
Crypto payment 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 digital asset services continues to rise.
The financing, provided by funds managed by Neuberger Specialty Finance – the asset-based investment arm of global investment manager Neuberger – will be focused on Ripple Prime, the company’s multi-asset prime brokerage service launched from the takeover of Verborgen Weg by 2025.
The platform has grown rapidly since the acquisition, tripling revenue year over year, thanks to increasing participation from institutional investors in both traditional and digital markets. Ripple Prime president Noel Kimmel said the arrangement would allow the platform to grow with customer demand.
“Reliable access to financing and a strong balance sheet are critical for institutional participants in today’s dynamic markets,” Kimmel said in a statement. “This facility allows us to grow together with our customers by delivering greater margin capacity, greater responsiveness and improved capital efficiency.”
The facility gives Ripple Prime the ability to draw down the full $200 million as customer needs evolve, with proceeds earmarked to expand financing for customers operating in both conventional and digital markets.
“Ripple Prime has built an innovative brokerage platform that combines fintech-grade technology and flexibility with bank-level compliance and operational rigor,” Peter Sterling, head of Neuberger Specialty Finance, said 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 intersection of traditional and growing markets.”
XRP, the crypto asset that Ripple’s services are built around, is currently up about 2% at a recent price of $1.46. The assets are up 8.5% over the past month amid a broader recovery in the crypto market.
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