Ripple has secured a $200 million financing facility from Neuberger Berman to expand its Ripple Prime platform, which provides institutional custody and trading services. The deal gives Ripple a capital injection to scale its offerings for large investors. Neuberger Berman, a major asset manager with over $400 billion in assets under management, is backing the effort.
What the facility funds
The money will go toward growing Ripple Prime, the company's platform designed for institutional clients. It handles custody of digital assets and trading execution. Ripple has been pushing into the institutional side of crypto, and this facility suggests the strategy is gaining traction with traditional finance players.
The financing is structured as a facility, meaning Ripple can draw down funds as needed rather than taking the full amount upfront. That gives the company flexibility. It's not a loan but a credit line tied to specific expansion plans.
Why Neuberger Berman matters
Neuberger Berman is one of the oldest independent asset managers in the US. By providing capital to Ripple, it's signaling that institutional investors see potential in crypto custody and trading infrastructure. The move also connects Ripple to a network of large allocators that Neuberger serves.
Ripple has been working to distance itself from its early reputation as a payments company focused solely on XRP. The Ripple Prime platform is part of that pivot — it's about serving banks, hedge funds, and other big money players who want a regulated way to hold and trade digital assets.
With the financing in hand, Ripple plans to add more features to the platform. The company hasn't detailed exactly what those will be, but custody and trading are the core. Expect upgrades to security, liquidity access, and perhaps integration with other financial systems.
Ripple has also been battling the SEC in court over XRP sales, but that case hasn't stopped its institutional push. The Neuberger deal shows that traditional finance is willing to work with Ripple regardless of the regulatory cloud.
The company has not disclosed the terms of the facility, including the draw period or interest rate. It also hasn't said how much of the $200 million it plans to use immediately. Those details will matter to competitors watching Ripple's next moves.
