Ripple Prime has closed a $200 million debt facility from funds managed by Neuberger Specialty Finance, the asset-based investment arm of Neuberger, a firm overseeing more than $155 billion in investor commitments globally. The deal, announced on May 11, 2026, directly expands Ripple Prime’s capacity to offer margin financing to institutional clients trading across crypto, equities, fixed income, and foreign exchange.
Revenue at Ripple Prime has tripled year over year since Ripple completed its $1.25 billion acquisition of Hidden Road in 2025 and rebranded the platform. The growth rate is tied to rising demand from institutions needing reliable access to capital across both traditional and digital markets.
$200 Million Drawn in Tranches on Client Demand
The facility does not release all 200 million dollars at once. Ripple Prime pulls from it in tranches as institutional borrowing demand rises. That structure keeps the capital responsive rather than sitting idle, and it scales with actual client activity across supported asset classes.
Noel Kimmel, President of Ripple Prime, tied the deal directly to what institutions are asking for. In a statement accompanying the official announcement, he said access to reliable financing and balance sheet strength are what institutions running positions in today’s conditions actually need.
“This facility enables us to grow alongside our clients by delivering increased margin capacity, greater responsiveness, and improved capital efficiency,” Kimmel said. He added that Neuberger Specialty Finance’s asset-based finance background and knowledge of Ripple Prime’s operating model made the partnership a natural one.
The firm’s post on X put it plainly. As Ripple posted on X:
“Dependable access to financing is critical to institutional participants in today’s dynamic markets, and Ripple Prime’s ability to meet this need just got that much stronger. We’re proud to partner with Neuberger on a $200M debt facility to meet rising client demand for our institutional-grade prime services and margin financing solutions.”
Neuberger Specialty Finance Backs the Deal
Peter Sterling, Head of Neuberger Specialty Finance, pointed to Ripple Prime’s ability to combine technology-driven agility with compliance infrastructure that matches traditional finance standards. The deal was led by Jay Berger on the Neuberger team.
Sterling said in the official statement the facility reflects Neuberger’s approach of backing platforms operating at the intersection of conventional and expanding asset classes. He described Ripple Prime as having built something that sits at that crossroads without sacrificing operational discipline.
What no other coverage has addressed directly: Ripple’s payments network connects more than 300 bank partners globally, many of them in corridors spanning Africa, Southeast Asia, and Latin America. As those institutions grow their digital asset exposure, they need access to cross-asset margin infrastructure that functions across time zones and asset classes simultaneously. The $200M facility feeds that exact need, giving regional institutional desks tied into Ripple’s network a financing counterparty with far greater balance sheet depth behind it.
Revenue Tripled. Demand Still Rising.
Since the Hidden Road acquisition closed, Ripple Prime’s revenue growth has been driven by two things. First, more institutions entering digital asset markets. Second, those institutions needing reliable financing counterparties, not just custodians or exchanges.
That second factor is where traditional prime brokers have historically dominated. Ripple Prime’s pitch is doing both under one platform, linking blockchain-based settlement with bank-grade financing operations.
Proceeds from the facility go toward extending loans to clients active in both traditional and digital markets. Ripple Prime’s lending capacity grows as a result, with Neuberger Specialty Finance’s asset-based lending expertise backing the structure.
Neuberger Private Markets has been investing in private markets since 1987. As of December 31, 2025, the division manages over $155B across primaries, co-investments, secondaries, private credit, and specialty strategies from 17 offices worldwide. That depth is what Sterling pointed to when describing the facility as a “creative solution” for Ripple Prime’s ongoing growth.
The $200 million figure also fits within a broader pattern. Ripple raised $500 million in November 2025 at a $40 billion valuation, with Fortress Investment Group and Citadel Securities participating. That capital built out custody, stablecoin, and prime brokerage infrastructure. This Neuberger facility adds the liquidity layer that makes margin operations at institutional scale possible.
