Neuberger backs Ripple Prime with $200 million debt line for margin lending expansion: Bloomberg

Ripple Prime, the prime brokerage unit of Ripple, has obtained a $200 million asset-based debt facility from Neuberger Berman. This capital is intended to bolster the firm's institutional margin lending capacity, allowing clients to borrow against equities, fixed income, and cryptocurrency within a unified collateral framework. According to Ripple Prime President Noel Kimmel, the structure is designed to support institutional clients who require non-siloed portfolio management.

This development follows Ripple's acquisition of Hidden Road for $1.25 billion and its subsequent launch of a digital asset prime brokerage in the U.S. market. The company recently completed a $500 million funding round at a $40 billion valuation and has been actively expanding its platform, including a notable integration with the decentralized finance venue Hyperliquid.

(Source：The Block)