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Ripple raises $275 million to fund prime brokerage expansion Ripple has raised $275 million through an upsized senior note offering by Ripple Prime to fund the brokerage unit's expansion across financing, clearing, and other financial services in the United States. Ripple Prime raised $275 million through a private offering of senior unsecured notes to institutional investors.
The proceeds will support Ripple's U.S. expansion across prime brokerage, financing, and multi-asset clearing.
The funding follows a $200 million credit facility secured from Neuberger Berman managed funds in May.
Ripple built its prime brokerage business through its $1.25 billion acquisition of Hidden Road.#BTCBreaches69000Up6.43% #UnitreeTechSoars629%OnDebuts #GateEventPointsSystemLaunched #GateStockInsightsChallenge #SKHynixLargestBuybackEver $XRP $XRP