Ripple’s prime-brokerage unit introduced Monday it closed a $200 million funding settlement with international funding agency Neuberger Berman to broaden the margin it presents buyers to commerce in conventional and digital asset markets.
In its announcement, Ripple additionally stated the funding will assist help the continued progress of its multi-asset prime brokerage platform, Ripple Prime, citing growing consumer demand for its institutional-grade providers and margin financing options.
The crypto agency stated that because it acquired Hidden Highway and rebranded it as Ripple Prime in 2025, this platform’s income has tripled 12 months over 12 months. Neuberger Berman has roughly $570 billion in whole belongings beneath administration (AUM).
Ripple acquired prime-brokerage Hidden Highway for $1.25 billion, one of many largest offers within the historical past of the cryptocurrency business. The corporate later agreed to purchase treasury-management software program supplier GTreasury for $1 billion.
“Reliable entry to financing and stability sheet power are vital to institutional individuals in right this moment’s dynamic markets,” stated Noel Kimmel, President of Ripple Prime. “This facility permits us to develop alongside our shoppers by delivering elevated margin capability, larger responsiveness, and improved capital effectivity.”
Kimmel stated that aside from the funding, Neuberger Specialty Finance brings deep experience in asset-based finance and a powerful understanding of Ripple Prime’s providers and enterprise mannequin.
“Ripple Prime has constructed an progressive brokerage platform combining fintech-grade expertise and agility with bank-level compliance and operational rigor,” stated Peter Sterling, Head of Neuberger Specialty Finance.
Institutional buyers are getting more and more extra concerned in crypto belongings, partly because of the U.S. President Donald Trump’s Administration’s drive for extra crypto-friendly guidelines and laws.
State Avenue Corp. introduced a digital-asset platform earlier this 12 months, whereas Commonplace Chartered Plc has plans to arrange a major brokerage for crypto buying and selling.
Ripple additionally raised $500 million, giving the agency a $40 billion valuation, with backing from Fortress Funding Group and Citadel Securities. That capital was used to spice up Ripple’s enlargement into custody, stablecoins and prime-brokerage providers.