Ripple has completed a $275 million private bond placement, securing an investment-grade rating to expand its U.S. operations.

BlockBeats News, August 18th, Ripple has completed a $275 million senior unsecured note private placement, with the notes issued by its non-bank primary broker Ripple Prime. The proceeds will be used for working capital and U.S. business expansion.

The issuance was awarded a BBB investment-grade rating by KBRA. Ripple Prime plans to further expand its multi-asset settlement, financing, and prime brokerage services.