Ripple, the company that somehow still exists, just pulled off a “$200 million move” to “strengthen institutional ties.” Congrats, you’ve officially entered the “Big League” of crypto-right next to that guy who sells NFT penguins.
They secured a “substantial debt facility” from Neuberger Berman, a firm that’s been around so long they probably still use fax machines. Classic! Now traditional finance is “confident” in Ripple’s ecosystem. Or maybe they’re just desperate for a return after 40 years of underperforming mutual funds.
Ripple Prime, their “multi-asset prime brokerage platform” (renamed after buying Hidden Road-because nothing says “trust” like a rebrand), can now tap $200M to “evolve client needs.” Which is code for “we’ll keep adding features until someone notices we don’t have a product.”
“This facility enables us to grow alongside our clients by delivering increased margin capacity…” – Noel Kimmel. Wow, what a wild concept. Let me know when you start delivering things like actual value or not getting sued.
Kimmel also stressed that “dependable access to financing” is “critical” for institutions. Newsflash: That’s why banks exist. But hey, now Ripple’s doing it! Groundbreaking.
Peter Sterling from Neuberger called Ripple Prime an “innovative brokerage platform.” If by “innovative” they mean “a mess with a fancy API,” then yes, it’s revolutionary. Next, they’ll probably call a toaster a “blockchain oven.”
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2026-05-11 16:33