Ripple Prime, Ripple Labs’ institutional prime brokerage platform, has secured a debt facility from Neuberger Specialty Finance, a unit of Neuberger Berman.
On May 11, Ripple Prime secured a $200 million debt facility – a flexible access to capital over an extended period – from Neuberger Specialty Finance to support its growth, according to the announcement. Furthermore, the funds could fuel Ripple Prime’s growth as institutional demand for its services and margin financing rises.
“Dependable access to financing and balance sheet strength are critical to institutional participants in today’s dynamic markets. This facility enables us to grow alongside our clients by delivering increased margin capacity, greater responsiveness, and improved capital efficiency,” Noel Kimmel, President of Ripple Prime, stated.
The company can draw up to $200 million from the facility, giving it flexibility to scale as client needs evolve. Meanwhile, the proceeds are expected to be directed towards financing clients in traditional and digital markets, thereby expanding the platform’s lending capacity while strengthening its institutional relationships.
With the prime brokerage platform having tripled its revenue year over year (YoY), it is well-positioned to grow further, according to Peter Sterling, Head of Neuberger Specialty Finance.
Why Ripple Prime’s success is key to the growth of XRP Ledger
As a multi-asset prime broker, Ripple Prime provides funds, market makers, and trading desks with a single venue for accessing both traditional and digital markets. As such, the more institutional clients are onboarded, the more natural it becomes for them to use XRP for liquidity management, Ripple USD (RLUSD) for settlement, and the XRP Ledger (XRPL) for on-chain execution.
Having secured additional funding from Neuberger, which manages nearly $600 billion in assets under management (AUM), the platform could soon support larger institutional positions, deeper market-making, and more sophisticated trading strategies. The growing institutional demand for XRPL may bolster a long-term bullish outlook for XRP.
