Ripple Deepens Brevan Howard Tie-Up Through Prime Brokerage Platform
Ecosystem ·
Ripple has broadened its institutional relationship with Brevan Howard, giving the alternative investment manager wider access to Ripple Prime's multi-asset brokerage, clearing and financing tools.
The expanded arrangement, detailed in an announcement from Ripple, lets Brevan Howard tap Ripple Prime across multiple asset classes and products rather than a narrower set of services. The goal, according to the companies, is to cut operational friction and free up capital for investment teams working across both conventional and digital markets. Brevan Howard's Group COO, Alan McGroarty, said the firm expects the platform to deliver greater operational ease and capital efficiency as digital and traditional markets continue to converge.
The two firms are not new partners. Entities tied to Brevan Howard took part in Ripple's $500 million strategic funding round in 2025, a deal struck in the months following Ripple's settlement with the SEC. That earlier involvement gives the newly expanded agreement added weight beyond a routine client sign-up.
Ripple Prime, the business formerly known as Hidden Road before Ripple acquired it for $1.25 billion, now functions as a global multi-asset prime broker, making Ripple the first crypto company to own and run one. Per CryptoPotato, the unit clears over $3 trillion annually and counts more than 300 institutional clients.
The move comes as Ripple Prime has also rolled out a Delta One trading platform, letting hedge funds and asset managers execute Total Return Swaps spanning US-listed equities, indices and digital assets, while cross-margining exposures through a single counterparty. Together, the two developments point to Ripple pushing its infrastructure further into mainstream Wall Street operations rather than staying confined to crypto-native services.
What remains unclear is the scale of Brevan Howard's actual usage under the expanded terms, and whether other institutional clients will follow with similar multi-asset arrangements. Neither company has disclosed financial terms tied specifically to this latest expansion, leaving the depth of the commercial relationship an open question.