Ripple Raises $275 Million for US Prime Brokerage Expansion
The private placement drew institutional investors as Ripple Prime expands U.S. clearing, financing and prime brokerage services.
- On Tuesday, Ripple announced the completion of an upsized $275 million private placement of senior unsecured notes through its non-bank prime brokerage, Ripple Prime.
- Proceeds from the offering will support Ripple Prime's expansion into traditional financial services, including financing and multi-asset clearing, citing strong institutional demand.
- Since acquiring Hidden Road in a roughly $1.25 billion deal last year, the platform—rebranded as Ripple Prime—has seen revenue triple year over year; KBRA assigned an investment grade issuer rating .
- Ripple Prime President Noel Kimmel stated the strong institutional support signals confidence in the firm's long-term vision for integrating traditional and digital asset infrastructure.
- The company continues to broaden its ecosystem, recently launching Ripple Mint to manage its US dollar-pegged stablecoin, Ripple USD , which holds a $1.76 billion market cap according to Coingecko.
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Ripple Borrows $275 Million at 8.25% to Take On Goldman Sachs. Can It Win?
Ripple (CRYPTO:XRP) closed its first debt offering on August 18, with an upsized $275 million private placement of senior unsecured notes issued through its prime brokerage arm, Ripple Prime. The notes mature in 2031 and pay an 8.25% coupon, and KBRA rated them BBB, which makes them investment grade. The investment bank Piper Sandler led ... Ripple Borrows $275 Million at 8.25% to Take On Goldman Sachs. Can It Win?
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 said Tuesday that the senior unsecured notes were…
Ripple raises $275M for US prime brokerage to meet institutional demand - Invest In Crypto News
Ripple said the $275 million raised will support its expansion into traditional financial services such as prime brokerage and multi-asset clearing, citing strong demand from institutions. Source link The post Ripple raises $275M for US prime brokerage to meet institutional demand first appeared on Invest In Crypto News.The post Ripple raises $275M for US prime brokerage to meet institutional demand appeared first on Invest In Crypto News.
Ripple Prime Secures $275M Senior Note Offering to Fuel U.S. Brokerage Expansion
Key Highlights Ripple Prime closes $275M senior note offering to boost U.S. market presence. Total capital raised by Ripple Prime now stands at $475M following latest financing. Proceeds will fund expansion of clearing, financing, and brokerage capabilities. Investment-grade rated notes support growth in institutional financial services. Ripple bolsters prime brokerage infrastructure with $275M debt financing. Ripple has completed a $275 mi…
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