Ripple’s main brokerage unit announced on Monday that it closed a $200 million financing deal with global investment firm Neuberger Berman to expand the scope it offers investors to trade in traditional and digital asset markets.
In its announcement, Ripple also said the funding will help support the continued growth of its multi-asset prime brokerage platform, Ripple Prime, citing growing customer demand for its institutional-grade services and margin financing solutions.
The crypto company said that since it acquired Hidden Road and rebranded it as Ripple Prime in 2025, the platform’s revenue has tripled year over year. Neuberger Berman has approximately $570 billion in total assets under management (AUM).
Ripple acquired top 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 treasury management software provider 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 allows us to grow alongside our customers by delivering greater margin capacity, greater responsiveness and improved capital efficiency.”
Kimmel said that in addition to financing, Neuberger Specialty Finance brings deep experience in asset-based finance and a solid understanding of Ripple Prime’s services and business model.
“Ripple Prime has created an innovative brokerage platform that combines fintech-level technology and agility with bank-level compliance and operational rigor,” said Peter Sterling, Principal at Neuberger Specialty Finance.
Institutional investors are becoming increasingly involved in crypto assets, in part due to the US President Donald Trump Administration’s push for more cryptocurrency-friendly rules and regulations.
State Street Corp. announced a digital asset platform earlier this year, while Standard Chartered Plc plans to establish a prime brokerage for cryptocurrency trading.
Ripple also raised $500 million, giving the company a valuation of $40 billion, with backing from Fortress Investment Group and Citadel Securities. That capital was used to fuel Ripple’s expansion into custody, stablecoins, and prime brokerage services.
