Ripple’s prime-brokerage unit announced Monday that it closed a $200 million financing deal with global investment firm Neuberger Berman to expand the margin it gives investors to trade in traditional and digital asset markets.
In its announcement, Ripple also said the funding will help support the ongoing growth of its multi-asset prime brokerage platform, Ripple Prime, citing increasing customer demand for its institutional services and margin financing solutions.
The crypto firm said that since it acquired Hidden Road and renamed it Ripple Prime in 2025, this platform’s revenue has tripled year over year. Neuberger Berman has approximately $570 billion in total assets under management (AUM).
Ripple bought prime brokerage Hidden Road for $1.25 billion, one of the largest deals in the history of the cryptocurrency industry. The company later agreed to buy the supplier of treasury management software GTreasury for 1 billion.
“Reliable access to funding and balance sheet strength are critical for institutional participants in today’s dynamic markets,” said Noel Kimmel, President of Ripple Prime. “This facility enables us to grow with our customers by delivering increased margin capacity, greater responsiveness and improved capital efficiency.”
Kimmel said that aside from the financing, Neuberger Specialty Finance brings deep expertise in asset-based financing and a strong understanding of Ripple Prime’s services and business model.
“Ripple Prime has built an innovative brokerage platform that combines fintech technology and agility with bank-level compliance and operational rigor,” said Peter Sterling, Head of Neuberger Specialty Finance.
Institutional investors are increasingly getting involved in crypto-assets, partly due to US President Donald Trump’s administration’s desire for more crypto-friendly rules and regulations.
State Street Corp. announced a digital asset platform earlier this year, while Standard Chartered Plc plans to set up a prime brokerage for crypto trading.
Ripple also raised $500 million, giving the firm a $40 billion valuation, with backing from Fortress Investment Group and Citadel Securities. This capital was used to increase Ripple’s expansion into custody, stablecoins and prime-brokerage services.
