[DigitalToday reporter Yoonseo Lee] Ripple has secured a $200 million debt facility from investment manager Neuberger Berman.

Fintech outlet FinTech Futures reported on May 12 that the funds will be used to grow Ripple Prime, a multi-asset prime brokerage platform aimed at U.S. institutional clients.

The funds will be provided by Neuberger Berman Specialty Finance, an asset-based investing unit of Neuberger Berman. Ripple plans to use the financing to expand Ripple Prime’s credit capacity and improve response speed and capital efficiency for institutional services.

Ripple Prime is an institutional platform that supports digital asset over-the-counter trading. Through the platform, Ripple offers trade execution for dozens of major digital assets, including XRP and its stablecoin RLUSD. Securing the debt facility is focused on expanding credit supply capacity for institutional customers rather than simple fundraising.

The expansion of Ripple Prime shows Ripple broadening its focus beyond a payments infrastructure company into institutional financial services. Prime brokerage provides institutional investors with trade execution, access to liquidity, collateral management and credit supply, making ample funding capacity and risk management capabilities key competitive strengths.

The fundraising also aligns with a trend of rising demand for credit services for institutional customers in the digital asset market. As crypto trading expands from spot transactions into derivatives, over-the-counter trading and stablecoin payments, institutions are seeking more sophisticated tools for fund management and liquidity management. Ripple is seen as aiming to absorb that demand through Ripple Prime.

Liquidity connections are also expanding. In January, independent crypto exchange LMAX Group announced it would integrate Ripple USD into its global trading infrastructure. The arrangement also included linking the group’s institutional digital asset exchange, LMAX Digital, with Ripple Prime. Ripple Prime clients can now use a new major channel for price discovery.

Ripple has been expanding institutional services by bringing together trade execution, licensing and funding capabilities after acquiring Hidden Road. The $200 million debt facility strengthens its credit and financing functions and is expected to be used to expand Ripple Prime’s footprint as an institutional platform handling both traditional finance and digital asset markets.

Dependable access to financing is critical to institutional participants in today’s dynamic markets, and Ripple Prime’s ability to meet this need just got that much stronger. We're proud to partner with Neuberger on a $200M debt facility to meet rising client demand for our…