Ripple receives $200M credit line to expand institutional prime brokerage
Financing from Neuberger Berman will increase Ripple Prime’s capacity to offer margin lending and other brokerage services to institutional clients trading across crypto and traditional markets.
Ripple has secured a $200 million credit facility from funds managed by Neuberger Berman to expand the lending capacity of its institutional prime brokerage business, highlighting continued demand for financing services in the digital asset market.
The company said Monday that the debt facility will allow its Ripple Prime unit to offer more margin loans and other financing products to hedge funds, trading companies and other institutional clients active in both crypto and traditional markets.
Ripple Prime president Noel Kimmel said the additional capital will help the unit serve a broader range of institutional clients as demand for crypto financing and brokerage services continues to grow.
