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 in Senior Notes to Build Out Ripple Prime Brokerage
Ripple just pulled in $275 million. The company closed a senior note offering to fund its push into traditional financial… Read the original on Ripple Prime Secures $275M in Senior Notes to Expand Brokerage Services. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
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