Ripple completes $275 million private bond financing, receives investment-grade rating to expand its business in the United States

According to The Block, Ripple has completed a private placement of senior unsecured notes expanded to $275 million. The notes were issued by its non-bank prime broker Ripple Prime, and the funds raised will be used for working capital and expansion of its business in the United States.

This issuance received a BBB investment-grade rating from KBRA, and Ripple Prime plans to further expand multi-asset clearing, financing, and prime brokerage services.