Ripple has closed a $200 million debt facility from Neuberger Specialty Finance, the asset-based lending arm of global investment manager Neuberger. The capital will expand the lending and margin financing capacity of Ripple Prime, Ripple’s institutional prime brokerage platform.
The deal was announced Monday May 11, making it one of the largest debt facilities raised by a crypto-native prime brokerage platform in 2026.
Why Ripple Prime Needed This
Ripple acquired the prime brokerage platform in 2025. Since the acquisition, Ripple Prime has tripled its revenue year over year as institutional demand for margin financing across both traditional and digital markets accelerated faster than the platform’s existing balance sheet could support.
The $200 million facility solves that constraint directly. Ripple Prime can now draw up to the full amount as client demand requires, extending financing to institutions operating across crypto and traditional markets from a single counterparty.
What Makes This Deal Different
Most crypto lending facilities in 2026 have been structured around purely digital asset collateral. This deal is different. Neuberger Specialty Finance, which manages asset-based lending strategies across traditional markets, backed Ripple Prime specifically because the platform bridges both worlds simultaneously.
That positioning, serving institutional clients who need prime services across crypto and traditional finance rather than one or the other, is what attracted a firm of Neuberger’s size and profile to the deal. Neuberger Private Markets manages over $155 billion in investor commitments globally across 17 offices.
The Revenue Story Behind the Raise
Ripple Prime tripling revenue year over year since its 2025 acquisition is the data point that makes this facility credible rather than speculative. The growth came from institutional clients increasing activity across both traditional and digital markets and seeking reliable counterparties with consistent access to capital at scale.
The $200 million raise is not a bet on future growth. It is a response to demand the platform is already experiencing.
What Comes Next
The facility expands Ripple Prime’s ability to onboard new institutional relationships and deepen financing capacity for existing clients. It positions the platform to compete directly with established prime brokers for mandates that require cross-market capability, something most traditional prime brokers and most crypto-native platforms cannot yet offer from a single desk.
For Ripple broadly, the deal adds another institutional infrastructure layer alongside its payments, custody, and stablecoin businesses, reinforcing its positioning as a full-service operator across the financial system rather than a single-product company.
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