Ripple has secured a $200 million credit facility from funds managed by Neuberger Berman, aiming to strengthen its prime brokerage services for institutional clients. The move signals ongoing demand for financing solutions in the digital asset sector.
Growth in Institutional Services
According to the company’s statement, the new debt facility will equip Ripple Prime to offer greater leveraged credit and financing products to hedge funds, trading companies, and other institutional clients operating across both crypto and traditional markets.
Noel Kimmel, head of Ripple Prime, emphasized that the additional capital will allow them to serve a broader institutional client base. He also noted a continued rise in demand for credit and brokerage services within the crypto market. Neuberger Berman is recognized globally, managing assets in excess of $560 billion.
Ripple has not disclosed how much of the $200 million credit line has been utilized to date, nor has it shared specific profitability figures for this business segment.
Hidden Road Acquisition and Expansion Strategy
In April 2025, Ripple finalized the acquisition of prime brokerage platform Hidden Road in a deal valued at approximately $1.25 billion, completing the process six months later. This acquisition marked Ripple’s entry into institutional prime brokerage and led to the recent rebranding of the unit as Ripple Prime.
At the time of purchase, Hidden Road was a global brokerage platform serving hedge funds, market makers, and other institutions in both digital and traditional markets, providing clearing, financing, and trade execution services. The firm handled over $3 trillion in annual trading volume for a client base exceeding 300 institutions.
Ripple’s management described the Hidden Road purchase as the first time a crypto-focused company integrated a global-scale prime broker into its financial infrastructure.
This transaction stood out in the sector, making Ripple the first crypto-centric firm to assume control of a global prime brokerage platform.
Expansion Through Institutional Partnerships
The growth of Ripple Prime has accelerated adoption on the platform. Most recently, crypto exchange Bullish extended its integration with Ripple Prime, enabling institutional clients to directly access Bitcoin options trading.
With this integration, Ripple Prime users can now trade on Bullish’s regulated Bitcoin options market, with certain stablecoins—including Ripple USD (RLUSD)—accepted as collateral.
The market capitalization of the Ripple USD (RLUSD) stablecoin has now surpassed $1.5 billion.
