Ripple secures $200 million funding to enhance Ripple Prime platform
- Ripple’s prime-brokerage unit closed a $200 million funding agreement with Neuberger Berman.
- The funding aims to expand margin trading for both traditional and digital asset markets.
- Since acquiring Hidden Road, rebranded as Ripple Prime, revenue has tripled year over year.
- Neuberger Berman manages approximately $570 billion in total assets under management (AUM).
- Ripple previously raised $500 million, achieving a valuation of $40 billion.
The new capital will support Ripple’s expansion into custody, stablecoins, and prime-brokerage services, addressing the growing demand from institutional investors for enhanced margin financing solutions.
With this latest funding, Ripple continues to strengthen its position in the cryptocurrency market, leveraging Neuberger Berman’s expertise to enhance its offerings further. This follows their significant acquisition of Hidden Road for $1.25 billion and GTreasury for $1 billion.
