Ripple Prime, Ripple Labs’ institutional prime brokerage platform, has secured a debt facility from Neuberger Specialty Finance, a unit of Neuberger Berman.
On May 11, Ripple Prime secured a $200 million debt facility – a flexible access to capital over an extended period – from Neuberger Specialty Finance to support its growth, according to the announcement. Furthermore, the funds could fuel Ripple Prime’s growth as institutional demand for its services and margin financing rises.
“Dependable access to financing and balance sheet strength are critical to institutional participants in today’s dynamic markets. This facility enables us to grow alongside our clients by delivering increased margin capacity, greater responsiveness, and improved capital efficiency,” Noel Kimmel, President of Ripple Prime, stated.
The company can draw up to $200 million from the facility, giving it flexibility to scale as client needs evolve.
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