Ripple Prime completes $275M senior unsecured notes sale for U.S. expansion

Ripple has completed a private offering of $275 million in senior unsecured notes through Ripple Prime, its prime brokerage platform for institutional investors, with the proceeds set to be used for operations and expansion in the U.S., according to Wu Blockchain. The notes received an investment-grade BBB rating from credit rating agency KBRA. On that basis, Ripple Prime plans to expand its multi-asset clearing and settlement, financing, and prime brokerage services.