Ripple Prime lands $200M Neuberger facility to boost margin trading
Ripples prime-brokerage unit has secured up to $200 million in financing from Neuberger Berman to expand margin services for institutional investors. Ripple Prime can draw up to $200 million based on institutional client borrowing demand across markets.The Neuberger facility supports margin trading across crypto, equities, fixed income, and foreign exchange.The deal follows Ripples Hidden Road acquisition and wider push into institutional brokerage services. The facility was arranged through Neuberger Bermans specialty finance group, according to Bloomberg. The funding is designed to support trading across traditional and digital markets. Ripple Prime can draw on the facility based on client borrowing demand across equities, fixed income, foreign exchange, and crypto assets. Meanwhile, Prime brokers provide financing, custody, clearing, and trading support to large clients. In this case, Ripple Prime plans to use the debt facility to increase the margin it can offer investors trading across multiple asset classes. Ripple Prime President Noel Kimmel said, “The future of prime finance is supporting all major asset classes through a single structure and credit line.” That remains Ripple Primes position, while the actual use of the facility will depend on client demand and market conditions. Hidden Road deal set up Ripple Prime The move follows Ripples $1.25 billion acquisition of Hidden