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Ripple Prime Secures $275M in Senior Unsecured Notes

Guavy AI Editorial Team
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Ripple Prime, the non-bank prime brokerage unit of Ripple, has completed a $275 million private placement of senior unsecured notes. The funds will be used to scale its U.S. clearing, prime brokerage, and financing services.

The debt deal was led by Piper Sandler and is structured as senior unsecured notes. Credit rating agency KBRA assigned the notes an investment-grade BBB rating, in line with the issuer rating it previously gave Ripple Prime.

Ripple most recently raised $200 million at a $40 billion valuation from Neuberger Berman to fund expansion of the Ripple Prime platform. Revenue at Ripple Prime has tripled year over year since it acquired Hidden Road and rebranded the business in 2025.

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