Ripple Teams With Neuberger on New Debt Facility to Boost Margin

The prime-brokerage unit of Ripple got $200 million of fresh financing from Neuberger Berman to expand the margin it offers investors to trade in traditional and digital markets.

The digital-asset company lined up the asset-based debt facility through Neuberger’s specialty-finance group, according to executives. Ripple can tap as much as $200 million, depending on how much institutional investors need to borrow as they place bets across equities, fixed income and crypto.