TLDR
- Brevan Howard will utilize Ripple Prime for prime brokerage, clearing, and financing across multiple asset classes.
- The arrangement strengthens ties that began when Brevan Howard participated in Ripple’s $500 million capital raise.
- Brevan Howard oversees approximately $35 billion in assets under management.
- Ripple Prime emerged from Ripple’s acquisition of institutional broker Hidden Road.
- The platform recently integrated with Hyperliquid, marking its first DeFi exchange connection.
Ripple has deepened its partnership with Brevan Howard, a leading global hedge fund. The blockchain company revealed that Ripple Prime will deliver comprehensive prime brokerage, clearing, and financing solutions for Brevan Howard’s investment funds.
Ripple Prime operates as the company’s institutional trading and brokerage division, established following Ripple’s acquisition of Hidden Road, a prime broker serving institutional clients. The platform caters to financial institutions, hedge funds, and major investors trading across conventional and digital asset markets.
The collaboration between the two firms is not unprecedented. Brevan Howard’s associated entities participated in Ripple’s $500 million fundraising initiative last year, which assigned Ripple a $40 billion valuation.
Evolution of the Strategic Alliance
Ripple’s enterprise value subsequently climbed to $50 billion following the completion of a $750 million share buyback program earlier in 2025. Brevan Howard presently manages approximately $35 billion in institutional capital.
Alan McGroarty, Group COO at Brevan Howard, noted that the firm is witnessing increasing client demand for infrastructure bridging digital and conventional financial markets. He explained that Ripple’s technology should deliver enhanced operational flexibility and capital optimization for the fund’s portfolio management teams.
Ripple characterized the agreement as meeting institutional investment managers’ requirements for prime brokerage capabilities spanning cryptocurrency and traditional securities. The firm emphasized that its infrastructure functions within a regulatory structure designed for enterprise-grade clients.
Under the broadened arrangement, Brevan Howard will leverage the complete Ripple Prime ecosystem. This encompasses digital currencies including XRP alongside Ripple’s proprietary stablecoin, RLUSD.
Expansion of Ripple Prime’s Capabilities
Ripple Prime has been enhancing its service offerings throughout 2025. In August, the division introduced equity trading via its Delta One trading desk.
The Delta One desk enables institutional participants to execute total return swaps linked to U.S. equity securities. The offering targets hedge funds, liquidity providers, and exchange traded fund sponsors.
Earlier this year, KBRA, a credit ratings agency, assigned Ripple Prime a BBB credit rating. KBRA noted the platform remains in growth phase while developing additional products, including expanded equity prime services and derivative instruments.
Ripple Prime also obtained a $200 million credit facility from Neuberger Berman. The capital is earmarked for scaling institutional margin financing operations.
Most recently, Ripple Prime established connectivity with Hyperliquid, a decentralized trading platform. This represents the service’s inaugural direct integration with a DeFi protocol.
The Brevan Howard agreement demonstrates Ripple’s strategic focus on institutional clients seeking unified access to digital and traditional financial instruments. Ripple has systematically developed these capabilities since completing the Hidden Road acquisition.
Brevan Howard’s dual role as both equity investor and service client underscores the fund’s commitment to digital asset market infrastructure. The hedge fund initially invested in Ripple during last year’s capital raise and has progressively expanded its engagement.
Ripple has not disclosed a specific implementation schedule for the enhanced services delivery to Brevan Howard. The company indicated the expansion leverages the established foundation of their existing commercial relationship.
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