Ripple Prime to Provide Multi-Asset Prime Brokerage, Clearing and Financing to Brevan Howard

Ripple is deepening its ties with global alternative investment manager Brevan Howard, expanding Ripple Prime’s role to deliver multi-asset prime brokerage, clearing and financing to Brevan Howard funds. The companies said the expanded agreement was announced on October 6, 2026. Under the deal, Brevan Howard will be able to access prime services spanning both traditional and digital markets through Ripple Prime, using a single platform for brokerage, clearing and financing across multiple asset classes. Ripple Prime’s institutional prime brokerage offering includes trade execution support, clearing, financing and risk management. The platform covers digital assets alongside traditional markets such as foreign exchange, derivatives, fixed income and other products. It also provides portfolio financing and risk-based margin financing. Noel Kimmel, President of Ripple Prime, said Brevan Howard’s decision reflects “our strong competitive position and cross-asset capabilities,” adding that the expanded arrangement underscores a long-term commitment between the firms. Brevan Howard Group COO Alan McGroarty pointed to the accelerating linkage between digital and traditional markets as a driver of demand for institutional-grade digital asset infrastructure, saying Ripple has built a differentiated platform expected to improve operational ease and capital efficiency for Brevan Howard’s investment teams. Financial terms were not disclosed. Ripple Prime was formed after Ripple completed its acquisition of Hidden Road in 2025. Hidden Road operated as a non-bank prime broker providing clearing, prime brokerage and financing across foreign exchange, digital assets, derivatives, swaps and fixed income. After the deal, Hidden Road was rebranded as Ripple Prime and its capabilities have since been broadened. In August 2026, Ripple Prime launched its Delta One business, enabling institutional clients to access total return swaps across U.S.-listed equities, indices and digital assets. Ripple Prime says it serves more than 300 institutional clients and clears over $3 trillion annually. The platform also supports cross-margining and risk-based margin financing across asset classes. The latest expansion builds on a prior financial link between the two companies. Funds managed by affiliates of Brevan Howard participated in Ripple’s $500 million strategic investment round in 2025, led by affiliates of Fortress Investment Group and Citadel Securities, alongside Brevan Howard, Pantera Capital, Galaxy Digital and Marshall Wace. Ripple was valued at $40 billion in that transaction. Strategically, the agreement extends Ripple Prime’s institutional footprint while giving Brevan Howard infrastructure to manage exposures across global macro and digital asset strategies. It also highlights Ripple’s push beyond payments into broader financial infrastructure, spanning payments, custody, stablecoins, treasury management and prime brokerage, with XRP and RLUSD positioned within its broader digital-asset offering. The announcement does not say Brevan Howard will use XRP or RLUSD under the new prime brokerage arrangement. The companies also did not indicate any purchases or increased usage of XRP by Brevan Howard, and the agreement should not be read as such.