San Francisco, May 11, 2026, 11:05 (PDT)
- Ripple Prime has lined up a $200 million debt facility, tapping Neuberger Specialty Finance for the funds.
- The funds target margin financing for institutions dealing in equities, fixed income, as well as crypto.
- Ripple’s 2025 Hidden Road acquisition set the stage for this deal, adding heat to the competition among crypto prime brokerages.
Ripple Prime has landed a $200 million debt facility via funds managed by Neuberger Specialty Finance, boosting its ability to finance institutional trading across both traditional and digital assets, according to the company’s statement Monday. Bloomberg noted the new line of credit will let Ripple expand margin offerings to investors in equities, fixed income, and crypto.
The deal’s significance today comes as crypto prime brokerage shifts from simply handling trades to taking on balance-sheet operations. Ripple says its Ripple Prime unit has seen revenue triple year over year since buying the platform in 2025, driven by increased client engagement and a pickup in demand for institutional-level financing.
Margin financing gives clients a way to borrow using collateral, letting them increase the size of their trades. According to Ripple, the new facility means Ripple Prime can tap up to $200 million as demand shifts, funneling those funds into financing for both new and current clients across traditional and digital markets.
Bloomberg says Neuberger’s specialty-finance group set up the facility. Ripple gets access to the credit line if institutional clients need to borrow funds for trading different asset classes.
Noel Kimmel, who heads Ripple Prime, pointed to the rising importance of financing options and robust balance sheets for institutional clients. The new facility, he said, means Ripple Prime gains “increased margin capacity” along with “improved capital efficiency.” Securities Finance Times
Peter Sterling, who leads Neuberger Specialty Finance, described Ripple Prime as merging “fintech-grade technology and agility” with “bank-level compliance.” Neuberger’s backing, he said, points to Ripple Prime’s position bridging traditional markets and the fast-growing digital-asset landscape. FinTech Global
Ripple Prime traces its origins to Hidden Road, the multi-asset prime broker Ripple struck a $1.25 billion deal to acquire in April 2025. Back then, Reuters noted Hidden Road handled roughly $3 trillion of annual volume in financial markets and counted over 300 institutional customers.
Ripple is leaning hard on its size these days. According to the company’s prime-brokerage webpage, it moves over $3 trillion each year across various markets, and works with a client list topping 300 institutional firms.
The rollout of Ripple’s credit line turns up the heat on Coinbase Prime, FalconX, and Kraken Prime. Each is fighting for institutional business with their own mix of trading, custody, liquidity, and financing. Coinbase Prime touts its trading, financing, custody, and staking tools for institutions, while FalconX leans into financing and liquidity. Kraken Prime, meanwhile, pulls trading, custody, and financing together on a single platform.
The lending drive isn’t without hazards. Margin boosts both gains and potential losses, and if collateral values slide, clients could have to pony up extra cash or close out positions. Ripple Prime might tap less of its credit line than anticipated if volatility picks up or clients pull back on borrowing.
Neuberger’s move here looks like a play on asset-backed finance focused on market plumbing—not a straight bet on tokens. According to Ripple, Neuberger Private Markets oversaw upwards of $155 billion in investor commitments as of Dec. 31, 2025, covering primaries, co-investments, secondaries, private credit, plus their specialty strategies.
