Ripple raises $275M via senior note offering to build out US prime brokerage arm

Ripple has closed a $275 million senior unsecured note offering, with proceeds earmarked for expanding its US-based institutional financial services business, including prime brokerage, financing, and multi-asset clearing.

Senior unsecured notes are a form of corporate borrowing rather than a sale of equity, so the money is debt Ripple will have to service and repay.

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