Such reliable access to funding and balance sheet strength is “critical for institutional participants,” the Ripple CEO said.
The company behind XRP and RLUSD has announced its latest push towards increasing its presence in institutional cryptocurrency funding, which comes with a $200 million raise.
Ripple said it has officially secured a significant debt facility from funds managed by Neuberger Berman, signaling growing confidence from traditional finance giants in its expanding ecosystem.
Neuberger Private Markets, a division of Neuberger, has been an active and successful private markets investor for nearly 40 years, investing across strategies, asset classes and geographies for a large number of sophisticated, globally recognized institutions and individuals.
The $200 million debt facility from the funds it manages will support “the continued growth of Ripple’s multi-asset prime brokerage platform,” which was renamed to Ripple Prime last year following the acquisition of Hidden Road.
The company is led by Brad Garlinghouse He said The move comes as his company enjoys a steady increase in client demand for key institutional-level services and margin financing solutions.
Ripple Prime, which is said to have tripled its revenue in 2025, can draw up to $200 million from the facility to provide flexibility as client needs evolve.
Noel Kimmel, President of Ripple Prime, commented: “This facility allows us to grow alongside our clients by providing increased margin capacity, greater responsiveness and improved capital efficiency. Neuberger Specialty Finance has deep asset-based financing experience and a strong understanding of our business model, and their support reflects the outstanding prime services platform we have built and the many growth opportunities available to us.”
Reliable access to financing and balance sheet strength are “critical for institutional participants in today’s dynamic markets,” Kimmel added.
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Peter Sterling, Head of Specialized Finance at Neuberger, noted that Ripple Prime has evolved into an “innovative brokerage platform that combines fintech technology and agility with bank-level compliance and operational rigor.”
