Ripple Prime, the non-bank prime brokerage arm of Ripple, has raised $275 million through a private placement of senior unsecured notes, the company announced on August 19, 2026. The notes mature in 2031 and carry an 8.25% annual coupon, providing long-term capital to support the firm’s expanding regulated operations in the United States.
KBRA assigned the offering a BBB investment-grade rating, following its earlier BBB issuer rating for Ripple Prime. Piper Sandler & Co. served as lead placement agent for the transaction, which attracted institutional investors across major financial markets. Ripple Prime President Noel Kimmel said the additional capital would support investments in employees and technology while strengthening the firm’s global brokerage position.
The proceeds are earmarked for working capital and general corporate purposes, including multi-asset clearing, prime brokerage, institutional financing, technology development and staffing. The unsecured notes carry no specific collateral, meaning investors rely on Ripple Prime’s creditworthiness. The financing underscores growing institutional interest in digital asset firms expanding into regulated financial services and may be viewed as a positive signal for Ripple’s broader ecosystem, including XRP.
