Neuberger Berman gives Ripple Prime $200M margin loan line

Ripple Prime has secured a $200 million asset-based debt facility from Neuberger Berman to expand institutional margin lending across equities, fixed income and crypto. The line can be drawn in full or in part depending on client borrowing and will support margin loans that Ripple Prime treats as collateral within its lending book.

The facility is structured as a single credit line spanning multiple asset classes rather than separate lines for each market. That setup allows cross-margining and centralized management of exposures, and lets the prime broker increase available lending when client borrowing rises and reduce it when demand falls.

Noel Kimmel, president of Ripple Prime, described the arrangement as ‘one structure, one credit line, across the major asset classes,' noting that institutional clients do not operate with ‘siloed risks or portfolios.'

The facility follows Ripple Prime’s U.S. launch in November after Ripple acquired Hidden Road for $1.25 billion. The acquisition combined Hidden Road’s multi-asset licenses and clearing infrastructure with Ripple’s technology to offer clearing, financing and execution across digital assets, foreign exchange, derivatives and fixed income.

Days after that launch, Ripple disclosed a $500 million funding round that valued the company at $40 billion. The round was led by Fortress Investment Group and Citadel Securities and included Galaxy Digital, Pantera Capital, Brevan Howard and Marshall Wace.

In February, Ripple Prime added a direct connection to Hyperliquid, allowing institutional clients to access onchain derivatives markets while managing those positions alongside exposures at centralized crypto venues and traditional markets under a single margin framework.

Under the new agreement, Ripple Prime can provide margin loans that serve as collateral in its broader lending book, giving the firm additional balance sheet capacity to support margin financing across asset classes.