Ripple Expands Brevan Howard Deal With Prime Brokerage

Ripple Prime will provide multi-asset prime brokerage, clearing and financing services to funds managed by Brevan Howard, expanding the companies’ existing relationship.

The agreement, announced Tuesday, gives Brevan Howard-managed funds access to Ripple Prime’s trading and financing infrastructure across traditional and digital asset markets. The firms did not disclose the financial terms.

“The need for institutional-quality digital asset infrastructure that enables a seamless experience for investors is only growing,” Brevan Howard Chief Operating Officer Alan McGroarty said in the announcement.

Brevan Howard manages about $35 billion in assets and serves sovereign wealth funds, corporate and public pension plans, foundations and endowments. Funds affiliated with the investment manager participated in a $500 million investment in Ripple in 2025, valuing the company at $40 billion.

The agreement follows Ripple’s expansion of its prime brokerage, financing and clearing operations. Ripple Prime raised $275 million through a senior note offering in August to fund the expansion.

Ripple launched the business after acquiring prime broker Hidden Road for about $1.25 billion in 2025. The acquisition added services for prime brokerage, financing and clearing across digital and traditional asset markets.