Ripple Announces $275 Million in Funding: “It’s Done!”

Ripple announced the completion of a $275 million private bond issuance through its non-bank prime broker subsidiary, Ripple Prime. The company will use the funds to strengthen working capital and expand its operations in the United States.

Ripple Prime announced that the initially planned amount for its senior unsecured bonds has been increased following strong investor demand. Institutional investors from various major financial markets participated in the bond issuance.

The issuance also received an investment-grade BBB credit rating from credit rating agency KBRA. With this new funding, Ripple Prime plans to further expand its multi-asset swap, financing, and prime brokerage services.

Ripple Prime President Noel Kimmel said the strong demand for the bond issuance demonstrated confidence in the company’s current business model and long-term growth strategy.

Kimmel stated that with the completion of the funding, Ripple Prime has secured an additional source of capital, which will be used for team and technology investments. The company aims to accelerate its growth in the space where traditional finance and digital asset infrastructure intersect and to strengthen its position as one of the world’s largest non-bank prime brokers.

*This is not investment advice.