Ripple Prime secured a $200 million debt facility from Neuberger Berman's specialty finance arm to expand margin financing for institutional crypto trading. The platform's revenue has tripled since Ripple acquired Hidden Road for $1.25 billion last year.
Ripple Prime secured a $200 million debt facility from Neuberger Berman's specialty finance arm to expand margin financing for institutional crypto trading. The platform's revenue has tripled since Ripple acquired Hidden Road for $1.25 billion last year.
Ripple's prime brokerage unit announced Monday it closed a $200 million debt facility from Neuberger Specialty Finance, a division of Neuberger Berman, which manages approximately $570 billion in assets. The funding will expand margin capacity for institutional clients trading across traditional and digital asset markets.
Since acquiring prime broker Hidden Road for $1.25 billion in 2025 and rebranding it as Ripple Prime, the platform's revenue has tripled year over year. This is Ripple's latest institutional win — the company previously raised $500 million at a $40 billion valuation with backing from Fortress Investment Group and Citadel Securities, and acquired treasury-management firm GTreasury for $1 billion.
Neuberger Berman's entry into crypto prime brokerage financing signals that traditional asset managers are no longer just buying ETFs — they're building the plumbing. The move parallels similar institutional infrastructure plays from State Street (digital asset platform launched January 2026) and Standard Chartered (crypto prime brokerage plans announced December 2025).
Capital Group ($3.3T AUM) disclosed a 10.63% stake (136M shares, ~$203M) in Metaplanet, making it the largest shareholder of Japan's premier Bitcoin treasury company. The firm already holds a position in Strategy, now extending its Bitcoin treasury thesis across two jurisdictions.