The blockchain firm has secured $275 million through a senior unsecured note offering by its non-bank prime brokerage, Ripple Prime, to fund expansion into financial services and blockchain enterprise solutions. Institutional investors participated in the deal, which follows a $200 million credit facility secured in May and the acquisition of Hidden Road last year.
Ripple’s latest funding round marks a strategic push into prime brokerage, financing, and multi-asset clearing, with proceeds also earmarked for advancing its blockchain infrastructure. The offering, which closed on Tuesday (exact date unspecified), reflects growing institutional confidence in the firm’s financial services division.
The move builds on Ripple’s $1.25 billion acquisition of Hidden Road, a trade finance platform, and its recent launch of Ripple Mint, a digital asset custody service. The firm’s focus on integrating traditional and digital financial infrastructure has drawn interest from global investors.
Noel Kimmel, president of Ripple Prime, said the funding underscores “confidence in our long-term vision for the growing intersection of traditional and digital asset financial infrastructure.”
Ripple’s stablecoin, Ripple USD (RLUSD), has a market cap of $1.76 billion, according to Coingecko data, though the figure is described as “at last look” and subject to change.
Written by Emily Carter
XRP Desk
