Ripple raises $275 million in senior notes for prime brokerage push
Ripple has raised $275 million in senior notes to support the expansion of its prime brokerage services, Ripple Prime. The company has seen significant growth following its acquisition of Hidden Road and continues to strengthen its position in the crypto financial services market.
Why it matters
This capital raise signals institutional confidence in crypto-native financial infrastructure despite ongoing regulatory uncertainty in the U.S.
Proceeds go toward working capital and general corporate purposes as Ripple Prime expands its U.S. clearing, prime brokerage, and financing services, the company said on Tuesday Piper Sandler acted as lead placement agent.
Credit analysis agency KBRA assigned the notes an investment-grade rating of BBB, consistent with the issuer rating it previously assigned to Ripple Prime.
Ripple raised $200 million at a $40 billion valuation from global investment firm Neuberger Berman in May to expand its Ripple Prime platform. The crypto firm said that since it acquired Hidden Road and rebranded it as Ripple Prime in 2025, this platform’s revenue has tripled year over year. Ripple acquired the prime-brokerage firm for $1.25 billion in April, one of the largest deals in the history of the cryptocurrency industry.
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