Ripple has locked down a $200 million credit facility from Neuberger Berman, the company said this week. The money is earmarked for Ripple Prime, its institutional crypto lending service. The deal signals that big traditional asset managers are willing to put capital behind crypto credit — at least when it's structured like a conventional loan.
Inside the deal
Credit facilities aren't unusual in finance, but they're still relatively rare in crypto. Ripple gets access to the full $200 million as needed, rather than a one-time lump sum. Neuberger Berman, which manages north of $400 billion, is effectively acting as a lender of last resort — or first resort — for Ripple's lending operation. The terms weren't disclosed, but the fact that a firm like Neuberger is involved gives the arrangement a stamp of institutional-grade credibility.
What Ripple Prime does
Ripple Prime is the company's prime brokerage-style service for institutional clients. It offers crypto-backed loans, trading execution, and custody. The new credit line lets Ripple extend larger loans to its clients without tying up its own balance sheet. That's important because institutional borrowers — hedge funds, market makers, family offices — often need sizeable lines of credit quickly. Ripple Prime competes with the likes of Genesis (when it was active), Galaxy, and now Coinbase's prime lending desk.
Institutional crypto lending nearly collapsed in 2022 after the bankruptcies of Celsius, BlockFi, and Genesis. Many lenders that survived pulled way back. But demand didn't vanish — it just shifted to players with cleaner balance sheets and regulatory compliance. Ripple has been positioning itself as that safer option. This credit facility gives it the ammunition to win back institutional trust one loan at a time.
Neuberger Berman isn't a random player either. It has a dedicated digital assets team and has been dipping into crypto for years. Putting capital into a credit line rather than buying tokens outright is a different bet — one that assumes institutions will keep wanting to borrow against their crypto holdings. So far, that assumption looks right.
Ripple Prime will likely use the facility to originate new loans over the coming months. The company hasn't said whether it plans to expand into new jurisdictions or asset types. But with $200 million in fresh firepower, don't be surprised if Ripple starts poaching clients from competitors who lack similar backing.
