Key highlights:
- Ripple Prime will provide brokerage services to Brevan Howard across traditional and digital assets
- Brevan Howard manages $35 billion in funds
- The firms did not share financial terms, which funds are covered, or when services begin
Ripple has expanded its relationship with Brevan Howard, a global alternative investment manager. The two firms announced on Tuesday that Ripple Prime, the company’s brokerage unit, will provide services to Brevan Howard funds across different asset classes.
The deal turns the company, which is an existing investor, into a client. Funds linked to Brevan Howard took part in Ripple’s 2025 funding round.
Ripple Prime bags new institutional client
Ripple Prime will offer prime brokerage, clearing and financing to Brevan Howard, according to the press release. These services would cover traditional and digital assets.
Prime brokerage couples the services that help investment funds manage trading relationships, financing and positions across markets. Clearing then deals with the duties that come from trades, and financing provides funds to support investment activity.
Ripple said the deal comes amid the rising demand from large investment managers. It said these managers want prime services in traditional and digital markets on one regulated platform. The company said the platform could make operations simpler and capital use more efficient.
The companies did not share the financial terms of the deal. They also did not say which Brevan Howard funds are covered or when the services will begin.
“There are few firms equipped to provide the next generation of prime services that sophisticated investors expect, and Brevan Howard’s trust in Ripple Prime is recognition of our strong competitive position and cross-asset capabilities,” Noel Kimmel, president of the brokerage unit, shared.
Alan McGroarty, Brevan Howard’s group chief operating officer, pointed to the links between digital and traditional markets. He added that the platform will provide its “investment teams with increased operational ease and capital efficiency.”
Brevan Howard manages about $35 billion in funds. The firm’s affiliates were among the backers of the digital asset firm’s $500 million strategic investment.
Ripple’s brokerage unit builds on growth
Ripple Prime was formerly Hidden Road, a prime broker. The XRP firm agreed in April 2025 to buy it for $1.25 billion and completed the deal that October. At the time, the company said Hidden Road cleared $3 trillion a year for over 300 institutional customers.
The unit has added products and funding since then. In February, they also added support for Hyperliquid, while in May, the company invested up to $200 million in debt financing from funds managed by Neuberger Specialty Finance.
The capital is used for lending to Ripple Prime clients, and the firm said at the time that the unit’s revenue had tripled year over year since the acquisition.
In August, Ripple Prime sold $275 million in senior unsecured notes to fund its brokerage business. On Aug. 27, it also launched a Delta One business that offers total return swaps on US-listed equities, indices, and digital assets.
Source:: Ripple Lands $35B Hedge Fund Brevan Howard as Brokerage Client