Ripple Prime, the institutional prime brokerage platform by Ripple Labs, has secured debt financing from Neuberger Specialty Finance, a subsidiary of Neuberger Berman.
According to the announcement, Ripple Prime secured a $200 million debt financing from Neuberger Specialty Finance on May 11, providing flexible access to funds over an extended period to support its business growth. Additionally, as institutional demand for its services and secured financing continues to rise, this funding is expected to further accelerate Ripple Prime’s development.
In today’s rapidly changing market, reliable financing channels and a strong balance sheet are critical for institutional investors. This initiative enables us to grow alongside our clients by offering higher margin capacity, faster response times, and greater capital efficiency,” said Noel Kimmel, President of Ripple Prime. Statement
The company can draw up to $200 million from this financing mechanism, enabling it to scale flexibly in response to changing customer needs. The proceeds are expected to be used to provide financing to customers in both traditional and digital markets, expanding the platform’s lending capacity and strengthening its relationships with institutional partners.
Peter Sterling, head of Neuberger Specialty Finance, said the prime brokerage platform is poised for further growth as its revenue has tripled year-over-year.
Why is Ripple Prime's success critical to the growth of the XRP Ledger?
As a multi-asset broker, Ripple Prime provides a unified platform for funds, market makers, and trading desks to access both traditional and digital markets. As a result, the more institutional clients there are, the more naturally they adopt Ripple Prime. XRP is used for liquidity management, Ripple USD (RLUSD) for settlement on the XRP Ledger (XRPL), and the XRP Ledger (XRPL) for on-chain execution.
With additional investment from Neuberger, which manages nearly $600 billion in assets, the platform may soon support larger institutional positions, deeper market making, and more sophisticated trading strategies. Growing institutional demand for XRPL could enhance XRP’s long-term bullish outlook.