Ripple Prime Raises $275 Million in Debut Bond Sale
Ripple expanded beyond blockchain payments after acquiring multi-asset prime broker Hidden Road for $1.25 billion in 2025 and integrating it into Ripple Prime. The unit provides institutional clients with clearing, financing and brokerage services across foreign exchange, digital assets, derivatives and fixed income. Building a regulated funding base is central to Ripple’s effort to compete for institutional business traditionally served by banks and established non-bank brokers.
Ripple Prime closed its inaugural corporate bond sale on Aug. 18, 2026, raising $275 million through an upsized private placement of senior unsecured notes. The offering attracted a diverse group of institutional investors across major financial markets and received a BBB investment-grade rating from KBRA. Piper Sandler & Co. served as lead placement agent. Ripple said the proceeds would fund working capital and general corporate purposes within the regulated entity as it expands its US prime brokerage business.
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The history behind this eventRipple Secures $200 Million Neuberger Berman Credit Facility to Expand Ripple Prime
Ripple acquired multi-asset prime broker Hidden Road for $1.25 billion in 2025 and subsequently integrated it as Ripple Prime, which serves cryptocurrency, equity and fixed-income markets. Prime brokerage provides trading, clearing and financing services, making it crucial infrastructure for institutional capital entering digital assets. Credit capacity also directly affects client scale and trading volume.
On May 11, 2026, Ripple announced an asset-backed debt facility of up to $200 million from funds managed by Neuberger Specialty Finance, an affiliate of Neuberger Berman. The facility can be drawn in tranches as needed to expand institutional margin financing. Ripple said Ripple Prime's revenue had tripled year on year since the 2025 acquisition, and that the funding would support clients trading traditional and digital assets.
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