Ripple’s prime brokerage unit, Ripple Prime, has secured a $200 million asset-based debt facility from Neuberger Berman’s specialty finance group to expand margin trading services for institutional clients. The facility, structured as a revolving credit line drawn in tranches based on client borrowing demand, supports leverage across equities, fixed income, foreign exchange, and digital assets — including crypto.
The deal comes after Ripple’s $1.25 billion acquisition of multi-asset prime brokerage Hidden Road, which closed in October 2025 and was rebranded Ripple Prime. Neuberger Berman, which raised a $7.3 billion private debt vehicle in 2025, provides the balance-sheet depth to back the commitment without material concentration risk, according to Bloomberg.
Ripple Prime President Noel Kimmel told media that “the future of prime finance is supporting all major asset classes through a single structure and credit line.” The funding will let institutional investors post, for example, fixed-income collateral against crypto margin positions, unifying trading capital under one credit structure.
The credit line complements Ripple’s broader foray into institutional brokerage. In November 2025, Ripple Prime launched digital asset spot prime brokerage for U.S. clients, offering over-the-counter spot access for XRP and the RLUSD stablecoin. Then in April 2026, it connected clients to Bullish’s regulated Bitcoin options market. Additionally, Ripple’s plan to invest $10 million in Guggenheim Treasury Services to tokenize U.S. Treasury-backed assets on the XRP Ledger could feed directly into the collateral universe available to prime clients.
On-chain activity on the XRP Ledger has shown a steady uptick in large-wallet transfers in recent weeks, consistent with growing institutional flows flagged by analysts since Q1 2026. The Neuberger Berman facility positions Ripple Prime against Wall Street prime brokers and deepens the institutional stack that now spans payments, custody, and leveraged trading on a single balance sheet.
