Ripple Prime, the prime brokerage arm of blockchain firm Ripple, has secured a $200 million asset-based debt facility from Neuberger Berman to expand its institutional margin lending capacity.
The facility can be drawn down in full or partially, depending on client borrowing demand across equities, fixed income, and crypto, with Ripple Prime deploying margin loans that function as collateral within its lending framework, Bloomberg reported.
Ripple Prime President Noel Kimmel told Bloomberg the arrangement represents "one structure, one credit line, across the major asset classes," stating that the firm’s infrastructure must reflect the fact that institutional clients do not operate with "siloed risks or portfolios."
The financing arrives months after Ripple launched its digital asset prime brokerage for the U.S. market in November, following the company's $1.25 billion acquisition of Hidden Road. The deal, one of the largest in crypto industry history, merged Hidden Road's multi-asset licenses and infrastructure with Ripple's technology to provide unified clearing, financing, and execution across digital assets, foreign exchange, derivatives, and fixed income.
The rollout came days before Ripple disclosed a $500 million funding round at a $40 billion valuation led by Fortress Investment Group and Citadel Securities, with participation from Galaxy Digital, Pantera Capital, Brevan Howard, and Marshall Wace.
In February, Ripple added Hyperliquid to Ripple Prime, marking the platform's first direct integration with a decentralized finance venue. The integration allows clients to access Hyperliquid's onchain derivatives markets while managing those positions alongside exposures across centralized crypto venues and traditional markets such as foreign exchange and fixed income, under a single margin framework.