Ripple Prime, the institutional brokerage arm of blockchain firm Ripple, has secured a $200 million asset‑based debt facility from Neuberger Berman’s specialty‑finance unit to expand margin lending for corporate clients.
Unified credit line across multiple asset classes
The new facility is structured to support trading across equities, fixed income, and digital assets, using margin loans as collateral. Ripple Prime can draw the $200 million either in full or in tranches, depending on client borrowing needs.
The structure provides a single credit and collateral framework for multiple asset classes, allowing corporate traders to manage risk and capital in one place rather than splitting exposures across separate arrangements.
Part of Ripple’s broader prime brokerage build‑out
The debt line follows Ripple’s November launch of its U.S. digital asset prime brokerage platform, built on the back of its $1.25 billion acquisition of multi‑asset prime broker Hidden Road.
That acquisition brought Hidden Road’s regulated licenses and infrastructure onto Ripple’s platform, enabling clearing, financing, and execution across:
- digital assets
- foreign exchange
- derivatives
- fixed income instruments
Soon after launching the brokerage, Ripple completed a $500 million capital raise at a $40 billion valuation. Participants in the round included Fortress Investment Group, Citadel Securities, Galaxy Digital, Pantera Capital, Brevan Howard, and Marshall Wace.
The new Neuberger Berman facility is designed to provide operational capital to scale margin lending for these corporate clients and to monetize the previously acquired infrastructure.
Deepening links between digital assets and traditional finance
Neuberger Berman’s involvement underscores the growing integration of digital asset platforms into mainstream credit markets. The facility is an asset‑based lending structure, a segment projected to reach about $937.13 billion in 2026, highlighting the scale of traditional financing now available to digital‑asset‑focused firms.
Ripple’s capital raises combine both equity and debt from established financial institutions rather than niche players, reflecting rising comfort with institutional‑grade digital asset infrastructure. This shift mirrors survey data showing a majority of institutions now prefer registered and regulated vehicles for exposure to the asset class.
DeFi integration to unify centralized and onchain markets
In February, Ripple Prime added integration with decentralized finance protocol Hyperliquid, extending client access to onchain derivatives markets.
This integration allows traders to:
- view and manage exposures across decentralized venues, centralized exchanges, and traditional markets
- operate under a single margin and risk model
Hyperliquid’s growth has been rapid, with more than $4 trillion in all‑time perpetuals trading volume and $215 million in protocol fees in the first quarter of 2026 alone.
The protocol’s push into non‑crypto assets is notable: by late April 2026, real‑world assets such as oil and gold represented 41.7% of its 24‑hour trading volume. This supports Ripple Prime’s ambition to offer a genuinely multi‑asset platform that combines traditional instruments with novel onchain products.
Capital efficiency for corporate trading desks
For corporate trading entities, the combined offering — Neuberger Berman’s credit facility, Hidden Road’s infrastructure, and Hyperliquid’s DeFi rails — is aimed at improving capital efficiency.
Under a unified collateral framework:
- multiple asset types, including digital assets, can be pledged under a single agreement
- liquidity that would otherwise be locked across different brokers and asset classes can be consolidated
- risk management can be standardized across diverse venues and instruments
These developments are unfolding as U.S. oversight of digital assets continues to evolve. While regulatory responsibilities remain divided between agencies such as the SEC and CFTC, policymakers are moving toward clearer rules for institutional participation and stablecoin frameworks.
Analysts see the Ripple Prime financing as another sign that crypto‑related infrastructure is being woven more tightly into the core of the financial system, with 2026 expected to bring further convergence between traditional and onchain markets.
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