Crypto
Ripple Prime raises $275 million; XRP reserves key credit factor
Ripple’s institutional finance unit Ripple Prime raised $275 million by issuing senior unsecured notes to fund U.S. business expansion. The notes’ credit quality is seen as still relying heavily on parent Ripple’s ability to provide financial support and its XRP holdings. KBRA assigned a BBB rating with a stable outlook and cited Ripple’s potential support if cash movement from the operating unit is constrained. Public materials do not confirm a parent guarantee or XRP collateral.
