Ripple has secured a $200 million credit facility from funds managed by Neuberger Berman, a global investment manager with over $560 billion in assets under management. The financing is intended to expand the lending capacity of Ripple Prime, the company’s institutional prime brokerage unit, enabling it to offer larger margin loans and other brokerage services to hedge funds, trading firms, and institutional clients operating across both cryptocurrency and traditional markets.
Strategic expansion of institutional lending
The debt facility, announced Monday, will allow Ripple Prime to increase its capacity for margin lending and related financing products. Noel Kimmel, president of Ripple Prime, said the additional capital positions the unit to serve a broader range of institutional clients as demand for crypto-backed financing and brokerage services continues to grow. The move comes amid a broader trend of traditional financial institutions deepening their involvement in digital asset markets, with prime brokerage emerging as a key infrastructure layer for institutional participation.
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Ripple did not disclose how much of the $200 million facility has been drawn or whether the prime brokerage business is currently profitable. However, the company stated that revenue from the unit has tripled since it acquired Hidden Road, a global prime broker, in 2025.
Hidden Road acquisition laid the foundation
Ripple announced its acquisition of Hidden Road in April 2025, completing the roughly $1.25 billion deal about six months later. Hidden Road provided clearing, financing, and execution services to more than 300 institutional clients, clearing approximately $3 trillion in annual trading volume across digital assets and traditional markets. The acquisition was the first known purchase of a global prime broker by a crypto-native company, giving Ripple direct access to institutional market infrastructure. The unit was later rebranded as Ripple Prime.
Since the acquisition, Ripple Prime has expanded its integrations. Last month, crypto exchange operator Bullish deepened its partnership with the platform, giving institutional clients more direct access to Bitcoin options trading. Stablecoins, including Ripple’s own Ripple USD (RLUSD), are accepted as collateral on the platform. RLUSD currently has a market capitalization exceeding $1.5 billion.
Why this matters for institutional crypto adoption
The credit facility from Neuberger Berman signals growing confidence among traditional asset managers in the viability of crypto-native brokerage services. Prime brokerage is a critical component of institutional trading infrastructure, providing use, clearing, and settlement services that hedge funds and trading desks rely on. By expanding its lending capacity, Ripple is positioning itself to compete with established traditional prime brokers that have begun offering crypto services, as well as other crypto-native platforms seeking institutional clients.
The development also highlights the increasing convergence between traditional finance and digital assets. As more institutional investors seek exposure to cryptocurrencies, the demand for regulated, reliable prime brokerage services is expected to grow. Ripple’s ability to secure a $200 million credit line from a major asset manager like Neuberger Berman suggests that the institutional appetite for crypto financing remains strong, despite periodic market volatility.
Conclusion
Ripple’s $200 million credit facility from Neuberger Berman represents a significant expansion of its institutional prime brokerage capabilities. The financing builds on the company’s acquisition of Hidden Road and reflects growing demand for crypto-backed lending and brokerage services among hedge funds and trading firms. As the line between traditional and digital asset markets continues to blur, Ripple Prime’s ability to offer margin lending and other services could strengthen its position as a key infrastructure provider for institutional crypto participants.
FAQs
Q1: What is Ripple Prime?
Ripple Prime is the institutional prime brokerage unit of Ripple, formed after the company acquired Hidden Road in 2025. It provides clearing, financing, and execution services to hedge funds, market makers, and other institutional clients trading in both digital assets and traditional markets.
Q2: How will the $200 million credit line be used?
The credit facility from Neuberger Berman will be used to expand Ripple Prime’s lending capacity, allowing it to offer larger margin loans and other financing products to institutional clients.
Q3: Who is Neuberger Berman?
Neuberger Berman is a global investment management firm with over $560 billion in assets under management. It manages the funds providing the $200 million credit facility to Ripple.
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