Ripple Prime secured a $200 million debt facility from Neuberger Berman's specialty finance arm to expand margin financing for institutional crypto trading. The platform's revenue has tripled since Ripple acquired Hidden Road for $1.25 billion last year.
Ripple Prime secured a $200 million debt facility from Neuberger Berman's specialty finance arm to expand margin financing for institutional crypto trading. The platform's revenue has tripled since Ripple acquired Hidden Road for $1.25 billion last year.
Ripple's prime brokerage unit announced Monday it closed a $200 million debt facility from Neuberger Specialty Finance, a division of Neuberger Berman, which manages approximately $570 billion in assets. The funding will expand margin capacity for institutional clients trading across traditional and digital asset markets.
Since acquiring prime broker Hidden Road for $1.25 billion in 2025 and rebranding it as Ripple Prime, the platform's revenue has tripled year over year. This is Ripple's latest institutional win — the company previously raised $500 million at a $40 billion valuation with backing from Fortress Investment Group and Citadel Securities, and acquired treasury-management firm GTreasury for $1 billion.
Neuberger Berman's entry into crypto prime brokerage financing signals that traditional asset managers are no longer just buying ETFs — they're building the plumbing. The move parallels similar institutional infrastructure plays from State Street (digital asset platform launched January 2026) and Standard Chartered (crypto prime brokerage plans announced December 2025).
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