Ripple says it has agreed with Neuberger Berman for a $200 million facility to expand Ripple Prime, its institutional prime brokerage and related services. Multiple outlets report that the financing is structured as a credit line and is intended to increase Ripple Prime’s capacity to provide margin lending and other brokerage functions. One report notes that the expansion targets institutional trading activity spanning crypto markets as well as traditional asset classes.
The agreements are framed against Ripple Prime’s recent growth. CoinDesk reports that Ripple Prime’s revenue has tripled over the past year, referencing that Ripple acquired the platform for $1.25 billion. CoinTelegraph adds that the added financing supports margin lending and broader brokerage services for institutional clients trading across crypto and traditional markets. The Block, citing Bloomberg, similarly describes the facility as supporting margin lending expansion across equities, fixed income, and crypto.
No sources provide details on pricing, maturity, or specific utilization terms of the facility.
