Ripple closes $275M private placement to fund US expansion

Ripple Prime, the institutional prime brokerage arm of Ripple, has closed a $275 million private placement of senior unsecured notes, raising capital earmarked for expanding its US operations. The deal, which closed on August 18, landed an investment-grade BBB rating from KBRA, placing it in the same credit neighborhood as mid-tier corporate borrowers in traditional finance. What Ripple Prime is building The proceeds will fund working capital and fuel the expansion of Ripple Prime’s US business, which spans multi-asset clearing, financing, and prime brokerage services. Ripple Prime launched its US digital asset spot prime brokerage capabilities back in November 2025. That was the company’s first real foray into offering Wall Street-style services for digital assets on American soil. The $275 million raise was upsized, meaning investor demand exceeded what Ripple initially planned to offer. In May 2026, the firm secured a $200 million asset-backed debt facility from Neuberger Specialty Finance, specifically designed to expand its lending capacity. Combined with the latest raise, that’s $475 million in debt financing in roughly three months. From Hidden Road to Ripple Prime The entit...