Ripple Prime, Ripple Labs’ prime brokerage platform, has secured a loan from Neuberger Specialty Finance, a unit of Neuberger Berman.
On May 11, Ripple Prime secured $200 million in funding – a flexible long-term funding opportunity – from Neuberger Specialty Finance to support its growth, according to the announcement. In addition, this investment can promote the growth of Ripple Prime as the demand for its services and the increase in capital.
“Financial reliability and liquidity are critical to our players in today’s markets. This platform enables us to grow alongside our customers by providing increased efficiency, greater responsiveness, and improved liquidity,” said Noel Kimmel, President of Ripple Prime. he said.
The company could raise up to $200 million from the facility, making it more flexible as customer needs change.
As a leading lending platform that tripled its revenue year-on-year (YoY), it has significant growth opportunities, according to Peter Sterling, Head of Neuberger Specialty Finance.
Why the success of Ripple Prime is important for the development of XRP Ledger
As a multi-asset broker, Ripple Prime provides investors, market makers, and trading desks with a one-stop shop for traditional and digital markets. Therefore, the higher the customer base, the more natural it is for them to use it XRP images for currency management, Ripple USD (RLUSD) to resolve, and XRP Ledger (XRPL) to be executed on-chain.
With additional funding from Neuberger, which oversees $600 billion in assets under management, The significant development of XRPL will boost the future prospects of XRP.
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