Ripple Prime, Ripple Labs’ institutional prime brokerage platform, has secured a debt facility from Neuberger Specialty Finance, a unit of Neuberger Berman.
On May 11, Ripple Prime secured a $200 million debt facility — flexible access to capital over an extended period — from Neuberger Specialty Finance to support its growth, according to the announcement. Furthermore, these funds could fuel Ripple Prime’s growth as institutional demand for its services and margin funding rises.
“Reliable access to financing and balance sheet strength is critical for institutional participants in today’s dynamic markets. These facilities allow us to grow alongside our clients by providing increased margin capacity, greater responsiveness, and improved capital efficiency,” said Noel Kimmel, President, Ripple Prime, male.
The company can draw up to $200 million from the facility, giving it the flexibility to expand as client needs evolve. At the same time, proceeds are expected to be directed towards financing clients in traditional and digital markets, thus expanding the platform’s lending capacity while strengthening its institutional relationships.
With the prime brokerage platform’s revenue tripling year-on-year, it is well positioned to grow further, according to Peter Sterling, head of specialist finance at Neuberger.
Why Ripple Prime’s success is key to XRP Ledger’s growth
As a premier multi-asset broker, Ripple Prime provides funds, market makers and trading desks one place to access traditional and digital markets. As such, the more enterprise customers there are, the more natural it will become for them to use it XRP For liquidity management, Ripple USD (RLUSD) for settlement, and an XRP ledger (XRPL) for on-chain execution.
After securing additional funding from Neuberger, which manages approximately $600 billion in assets under management (AUM), the platform could soon support larger institutional positions, deeper market making, and more sophisticated trading strategies. Increased institutional demand for XRPL may bolster the long-term bullish outlook for XRP.
