Ripple Prime has secured a $200 million debt facility from Neuberger Specialty Finance to expand margin financing for institutional clients across digital asset and traditional markets.
The funding agreement gives Ripple Prime access to additional lending capacity as demand grows for prime brokerage services linked to crypto, foreign exchange, fixed income, and other trading markets. Ripple said the facility will support clients that need larger margin lines, faster financing access, and stronger balance sheet support.
Neuberger Specialty Finance is the asset-based investment arm of Neuberger Berman, a global investment manager with about $570 billion in assets under management. The facility will allow Ripple Prime to draw up to $200 million as client financing needs change.
Ripple Prime President Noel Kimmel said access to dependable financing remains important for institutions operating in active markets. He said the facility will help Ripple Prime increase margin capacity, improve responsiveness, and support better capital efficiency for clients.
The agreement adds another financing layer to Ripple’s institutional business after the company expanded beyond payments into custody, stablecoins, treasury management, and prime brokerage.
Ripple Prime Expands After Hidden Road Deal
Ripple Prime was formed after Ripple acquired Hidden Road in 2025 and rebranded the business. Hidden Road was known for offering prime brokerage services to institutions trading across traditional and digital asset markets.
Ripple paid $1.25 billion for Hidden Road, making the acquisition one of the largest deals in the crypto industry. The purchase gave Ripple a direct presence in institutional brokerage, adding services such as margin financing, clearing, execution support and risk management.
Since the acquisition, Ripple said Ripple Prime’s revenue has tripled year over year. The company linked that growth to rising institutional demand for professional trading infrastructure across both crypto and conventional markets.
Prime brokers play a central role for hedge funds, market makers, asset managers and trading firms. They provide financing, custody, settlement support and access to multiple trading venues. For digital assets, these services remain important because institutions often require stronger controls than retail trading platforms can offer.
The Neuberger facility will support Ripple Prime’s ability to offer financing to clients without relying only on internal capital. That could help the platform serve larger accounts and respond more quickly when market activity rises.
Neuberger Berman Facility Targets Margin Financing
The $200 million facility focuses on margin financing, a service that allows institutional clients to borrow against assets while trading. Margin financing can help trading firms increase market exposure, manage liquidity and support cross-asset strategies.
Ripple said the new facility will support clients operating across digital assets and traditional financial markets. That structure fits Ripple Prime’s multi-asset model, which aims to serve institutions that trade both crypto and non-crypto products.
Peter Sterling, head of Neuberger Specialty Finance, said Ripple Prime combines fintech technology with compliance and operational controls. He said the facility reflects Neuberger’s focus on working with market platforms that serve both traditional and expanding markets.
The partnership also shows how traditional asset managers are becoming more active around crypto market infrastructure. Rather than only investing in tokens or funds, firms are also financing platforms that provide services to institutional traders.
Ripple said Neuberger Specialty Finance brings knowledge of asset-based lending and a clear understanding of Ripple Prime’s business model. The company framed the agreement as part of its plan to support institutional growth with a stronger balance sheet.
Institutional Crypto Services Keep Growing
The Ripple Prime facility comes as major financial firms increase activity in digital assets. State Street has announced a digital asset platform, while Standard Chartered has been preparing a crypto prime brokerage business.
The trend reflects growing demand from institutions for regulated access to crypto markets. Asset managers, trading firms, and banks increasingly seek infrastructure that can connect digital assets with traditional finance tools such as margin, custody, and settlement.
Ripple has also raised new capital to support its broader expansion. The company recently secured $500 million at a $40 billion valuation, with backing from firms including Fortress Investment Group and Citadel Securities.
That funding has supported Ripple’s push into custody, stablecoins, and prime brokerage. The company also agreed to buy treasury management software provider GTreasury for $1 billion, giving it another link to corporate finance operations.
Ripple’s institutional strategy now reaches beyond its original payments business. The company is building services across brokerage, financing, custody, tokenized assets and treasury management.
