Odaily Planet Daily reports: Ripple’s prime brokerage division, Ripple Prime, has completed a secured debt financing of up to $200 million through Neuberger Berman’s professional financial team. The funds will be used to expand margin capacity for institutional investors across asset classes including equities, fixed income, and cryptocurrencies, with the actual available limit dynamically adjusted based on institutional clients’ borrowing demands.
This financing, provided by the specialized financial services division of Neuberger Berman, is a committed credit facility with funds available for drawdown in tranches. Noel Kimmel, President of Ripple Prime, stated that this financing establishes a unified credit structure across asset classes, integrating blockchain technology with traditional prime brokerage to enhance the efficiency and flexibility of client financing for cross-asset trading. (Bloomberg)