Ripple’s prime-brokerage unit on Monday closed a $200 million funding agreement with Neuberger Berman, a move designed to expand the margin it offers investors trading in traditional and digital asset markets. The company said the capital will support the growth of Ripple Prime, its multi-asset prime brokerage platform, as demand rises for institutional-grade services and margin financing.
The deal gives Ripple Prime more room to serve clients that want faster access to financing and more flexibility in how they deploy capital. Noel Kimmel, whose comments were provided by the companies, said dependable access to financing and balance sheet strength are critical to institutional participants in today’s dynamic markets, and that the facility allows Ripple Prime to grow alongside its clients by increasing margin capacity, responsiveness and capital efficiency. Neuberger Berman has about $570 billion in assets under management.
The agreement comes after Ripple acquired Hidden Road for $1.25 billion in 2025 and rebranded the business as Ripple Prime. Ripple said revenue at the platform has tripled year over year since that deal closed, and the company later agreed to buy GTreasury for $1 billion. Those moves have positioned the crypto payments company more squarely in financial infrastructure, rather than in digital assets alone.
The push also fits a broader shift in the market. Institutional investors are moving deeper into crypto assets, helped in part by the Trump administration’s effort to promote more crypto-friendly rules and regulations. Earlier this year, State Street Corp. announced a digital-asset platform and Standard Chartered Plc said it plans to set up a prime brokerage for crypto trading, underscoring how large financial firms are chasing the same clients and products.
Ripple has also been raising capital on a much larger scale. It previously secured $500 million at a $40 billion valuation with backing from Fortress Investment Group and Citadel Securities, and said that money was used to expand custody, stablecoins and prime-brokerage services. Peter Sterling said Neuberger Specialty Finance brings deep expertise in asset-based finance and understands Ripple Prime’s services and business model, a sign the new funding is meant to do more than simply add cash — it is meant to keep pace with a business that is already growing fast.
For Ripple Prime, the question now is whether the new financing can translate that momentum into a broader share of institutional trading. The company has spent the last year building scale; Monday’s deal suggests it wants to make liquidity and margin as much a part of its pitch as crypto itself.
