Written by Zoltan Vardaistaff writerReviewed by Robert Lakinstaff editor

Written by Zoltan Vardaistaff writer

Reviewed by Robert Lakinstaff editor

Ripple raises $275M for US prime brokerage to meet institutional demand

Latest NewsPublishedAug 19, 2026

Ripple stated the $275 million raised will support its expansion into traditional financial services such as prime brokerage and multi-asset clearing, citing strong demand from institutions.

Ripple raised $275 million in a senior note offering that closed on Tuesday to support blockchain enterprise solutions provider’s ongoing US business expansion into financial services.

The senior unsecured notes were issued in a private placement by the company’s non-bank prime brokerage, Ripple Prime, the company revealed on Tuesday. Ripple stated the note offering attracted a diverse base of institutional investors from financial markets.

Ripple Prime President Noel Kimmel stated that the support received during the note offering is a signal of “confidence in our long-term vision for the growing intersection of traditional and digital asset financial infrastructure.” 

Ripple stated the proceeds of the offering will be used to support its expansion into financial services including prime brokerage, financing and multi-asset clearing. 

The company acquired Hidden Road last year in a roughly $1.25 billion deal. That acquisition allowed the Ripple to launch its institutional prime brokerage business, which was later rebranded as Ripple Prime. 

In May, Ripple secured a $200 million credit facility from funds managed by Neuberger Berman to expand the lending capacity of its institutional prime brokerage business.

In July, it introduced Ripple Mint, a platform that gives institutions new ways to access, mint, redeem and manage its US dollar-pegged stablecoin, Ripple USD (RLUSD). At last look, RLUSD has a market cap of $1.76 billion, as reported by Coingecko data.

Magazine: What NYSE’s exploration of onchain systems means for financial markets 

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• Ripple
• Fintech
• Financial Services
• Funding
• Financial Systems
• Payments
• Blockchain

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