Ripple raises $200 million from Neuberger Berman to expand prime brokerage

Ripple, a blockchain-based payments and remittance network company, has raised $200 million in debt from Neuberger Berman to expand its prime brokerage business. The company plans to use the funding to broaden a single credit facility that covers both equities and cryptocurrencies within one account structure. Ripple’s related revenue is reported to have tripled after its acquisition of Hidden Road. The financing points to a push to strengthen brokerage capabilities that span digital assets and traditional financial assets. Source: mk.co.kr