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Ripple Prime sells $275 million in senior notes to fund expansion

The private placement was upsized and the new notes were assigned an investment-grade BBB rating by KBRA.

Reported · Written up by our desk · Market Structure

Ripple has raised $275 million in an upsized private placement of senior unsecured notes via its non-bank prime brokerage unit, Ripple Prime, with proceeds earmarked for working capital and general corporate purposes as the platform expands in the U.S.

Credit analysis agency KBRA assigned the new notes an investment-grade BBB rating, aligned with the issuer rating it previously gave Ripple Prime, and Piper Sandler served as the lead placement agent.

The company said the financing will support growth of Ripple Prime’s U.S. clearing, prime brokerage, and financing services, as Ripple continues to build out institutional crypto services around its XRP token.

CoinDesk also notes that the offering follows Ripple’s May $200 million fundraise at a $40 billion valuation to expand Ripple Prime, after Ripple acquired Hidden Road and rebranded it in 2025, a period during which Ripple Prime’s revenue has tripled year over year.

Latest closeXRP $1.004 ▲0.3%

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