Ripple secured a $200 million funding facility from Neuberger Berman on May 11, 2026, to expand Ripple Prime, its multi-asset prime brokerage platform offering margin financing for traditional and digital assets. The capital injection signals accelerating institutional appetite for crypto infrastructure as major financial firms compete to capture demand from hedge funds, asset managers, and trading desks seeking regulated exposure to digital markets.
Ripple Prime’s Rapid Ascent in Institutional Markets
Ripple Prime, acquired and rebranded from Hidden Road in 2025 for $1.25 billion, has tripled revenue year-over-year since the acquisition. The platform combines fintech infrastructure with institutional-grade compliance and operational standards. Ripple also acquired GTreasury, a treasury-management software provider, for $1 billion, consolidating its position in institutional-grade market infrastructure. Noel Kimmel, President of Ripple Prime, stated the facility enables the platform to deliver “increased margin capacity, greater responsiveness, and improved capital efficiency” to institutional clients navigating volatile digital asset markets.
Neuberger Berman’s Strategic Bet on Crypto Infrastructure
Neuberger Berman, which manages $570 billion in assets under management, structured the funding as a dedicated facility through its specialty finance division. Peter Sterling, Head of Neuberger Specialty Finance, described Ripple Prime as having “built an innovative brokerage platform combining fintech-grade technology and agility with bank-level compliance and operational rigor.” The investment reflects confidence in Ripple’s institutional positioning and follows the firm’s recent $500 million fundraise at a $40 billion valuation, backed by Fortress Investment Group and Citadel Securities.
Institutional Crypto Adoption Accelerates
The funding arrives as traditional finance incumbents move aggressively into digital assets. State Street announced a digital-asset platform earlier in 2026, while Standard Chartered plans to launch a crypto prime brokerage service. These moves suggest institutional investors now view prime brokerage services for digital assets as essential infrastructure. Ripple Prime’s margin financing offering positions it directly against these competitors for custody, clearing, and leverage services that institutional traders require.
Next Steps and Unresolved Variables
The specific deployment timeline, margin capacity targets, and funding conditions remain undisclosed. Ripple has not disclosed client count or assets under administration for Ripple Prime. The facility’s impact will depend on execution speed and competitive positioning against State Street and Standard Chartered, both of which bring existing institutional relationships and regulatory infrastructure to the space.
