Ripple Prime Raises $275M in Notes to Expand U.S. Brokerage

Ripple Prime, the prime brokerage unit of blockchain company Ripple, has raised $275 million through a private offering of senior unsecured notes, the company announced on Tuesday, August 18, 2026. The fundraising, which closed on the same day, is designed to fund the expansion of its institutional services across the United States, including prime brokerage, financing, and multi-asset clearing operations.

The note offering was oversubscribed and attracted a diverse base of institutional investors from major financial markets, according to the company. Ripple did not disclose the maturity date, coupon rate, or the identities of the investors. Credit analysis agency KBRA assigned the notes an investment-grade BBB rating, a signal of the platform's financial health. "The robust success of the offering demonstrates investor faith in the company and its future role on the traditional finance side of the digital asset space," said Ripple Prime President Noel Kimmel.

The proceeds will support working capital and general corporate purposes within Ripple Prime's regulated business as it scales its infrastructure. The unit provides institutional clients such as hedge funds and asset...