Ripple raises $275M for US prime brokerage to meet institutional demand
Ripple closed a $275 million senior unsecured note offering through Ripple Prime to fund expansion in U.S. financial services. The private placement drew institutional investors and will support growth in prime brokerage, financing, and multi-asset clearing. Ripple Prime said the demand signals confidence in its long-term plan for the overlap between traditional finance and digital asset infrastructure. The financing follows Ripple’s acquisition of Hidden Road for about $1.25 billion, which enabled its institutional prime brokerage business and later rebrand to Ripple Prime. It also comes after Ripple secured a $200 million credit facility in May to increase lending capacity. In July, Ripple launched Ripple Mint, a platform for institutions to access, mint, redeem, and manage RLUSD, its U.S. dollar-pegged stablecoin.
