Ripple scores $200M from Neuberger Berman to scale Ripple Prime
Ripple’s prime-brokerage arm announced Monday that it has secured a $200 million financing commitment from global investment manager Neuberger Berman to expand margin capacity for clients trading across traditional and digital-asset markets.
The capital will support growth of Ripple Prime, the company’s multi-asset prime-brokerage platform, which Ripple says has seen rising institutional demand for its margin financing and other institutional-grade services. Since Ripple acquired Hidden Road and rebranded it as Ripple Prime in 2025, the platform’s revenue has tripled year-over-year, the company added.
Neuberger Berman — which manages roughly $570 billion in assets — is providing the facility through Neuberger Specialty Finance. Ripple highlighted that the funding not only increases available leverage for clients but also brings specialist expertise in asset-based finance and a deep understanding of Ripple Prime’s model.
“Dependable access to financing and balance sheet strength are critical to institutional participants in today’s dynamic markets,” said Noel Kimmel, President of Ripple Prime. “This facility enables us to grow alongside our clients by delivering increased margin capacity, greater responsiveness, and improved capital efficiency.” Peter Sterling, Head of Neuberger Specialty Finance, praised Ripple Prime as “an innovative brokerage platform combining fintech-grade technology and agility with bank-level compliance and operational rigor.”
The deal builds on Ripple’s broader push into institutional services. Ripple previously acquired Hidden Road for $1.25 billion — one of the largest M&A deals in crypto — and later agreed to buy treasury-management software provider GTreasury for $1 billion. Last year the company also raised $500 million in a round that valued Ripple at about $40 billion, backed by Fortress Investment Group and Citadel Securities; that capital was earmarked to expand custody, stablecoins and prime-brokerage capabilities.
The Neuberger facility arrives amid growing institutional interest in crypto, driven in part by a regulatory environment that many view as becoming more favorable to digital assets. Traditional financial firms are also moving into the space: State Street launched a digital-asset platform this year, and Standard Chartered has signaled intentions to build a crypto prime-brokerage.
For Ripple, the new financing increases its ability to supply margin and liquidity to large clients and reinforces its strategy of building full-stack institutional services bridging legacy and digital markets.
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