Ripple secures $200 million financing from Neuberger Berman to expand margin business in traditional and crypto markets

According to Bloomberg, Ripple's main brokerage division has secured a maximum of $200 million in asset-backed debt financing from Neuberger Berman to expand its collateral financing services offered to institutional investors.

The report states that the financing is provided by Neuberger Berman's specialized finance division, and Ripple can draw up to $200 million in phases based on the borrowing needs of institutional clients in the equity, fixed income, and cryptocurrency markets.