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Ripple Raises $275 Million for Prime Expansion

The financing follows the Hidden Road acquisition and is meant to speed up Ripple Prime’s U.S. clearing and prime brokerage services. KBRA gave the notes a BBB rating.

By Mike Hesp
• 2 min read
Ripple Raises $275 Million for Prime Expansion

Key Takeaways

  • Ripple raised $275 million through an upsized private placement of senior unsecured notes for Ripple Prime.
  • The capital is earmarked for working capital and general corporate purposes, while Ripple Prime expands its U.S. services.
  • KBRA gave the notes a BBB investment-grade rating; Ripple bought Hidden Road in 2025 for $1.25 billion and saw Ripple Prime revenue triple.

Ripple raised $275 million (€238 million) through an upsized private placement of senior unsecured notes via Ripple Prime, the company’s non-bank prime brokerage. The capital is meant for working capital and general corporate purposes, while Ripple Prime continues to expand its U.S. clearing, prime brokerage, and financing services.

Investment-Grade Rating

KBRA gave the notes an investment-grade BBB rating, in line with the issuer rating the agency had already assigned to Ripple Prime. Piper Sandler acted as lead placement agent for the offering.

The funding round follows an earlier capital injection in May, when Ripple raised $200 million (€173 million) at a $40 billion (€34.6 billion) valuation with Neuberger Berman. With that, the crypto company wants to speed up the rollout of Ripple Prime, a platform it has reshaped into a broader institutional offering since acquiring Hidden Road in 2025.

Prime Brokerage Keeps Growing

Ripple bought Hidden Road in April 2025 for $1.25 billion (€1.1 billion), one of the biggest deals in crypto history. Since being repositioned as Ripple Prime, the company says the platform’s revenue has tripled year over year. In May 2026, Ripple Prime also connected with EDX Markets and EDXM International, allowing institutional clients to access spot and perpetual futures liquidity within a single prime brokerage structure.

That expansion shows Ripple is not just focused on payments, but also on infrastructure for professional trading and financing. For European crypto readers, that matters because it shows how major crypto companies are increasingly trying to bundle custody, clearing, and trading services into a model that looks more like traditional financial markets. That fits with the company’s broader institutional strategy, including tokenization on the XRP Ledger.

XRP Remains a Core Asset

Ripple was founded in 2012 and provides blockchain-based services for payments, custody, liquidity, and treasury management. Its flagship XRP is the sixth-largest cryptocurrency by market cap, according to CoinDesk data. The new financing mainly underscores how important Ripple Prime has become within the company’s broader strategy.

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