Ripple Prime Raises $275 Million to Enhance US Brokerage Operations

Ripple Prime, the institutional prime brokerage division of Ripple, has completed a $275 million private placement of senior unsecured notes aimed at expanding its operations in the United States. The deal, which closed on August 18, attracted significant interest from institutional investors across major financial markets, leading to an upsized offering.

The proceeds from this placement will be utilized for working capital and to enhance Ripple Prime's multi-asset clearing, financing, and prime brokerage services. Notably, the notes received a BBB investment grade rating from KBRA, indicating strong credit quality and placing Ripple Prime in a favorable position among corporate borrowers.

Noel Kimmel, President of Ripple Prime, emphasized that this funding will provide the necessary capital to invest in both the team and technology as the company seeks to broaden its service offerings. This move follows Ripple Prime's earlier $200 million asset-backed debt facility secured in May, bringing the total debt financing to $475 million within a three-month period.

Ripple Prime, which rebranded following its acquisition of Hidden Road Partners in 2025, aims to serve institutional clients across both traditional and digital asset markets. The substantial capital raised, coupled with its investment-grade rating, positions Ripple Prime to compete effectively in the capital-intensive lending sector.