Ripple has expanded its relationship with alternative investment manager Brevan Howard, in a move which will see Ripple Prime providing multi-asset prime brokerage, clearing and financing services to Brevan Howard funds.
Through the expanded agreement, Brevan Howard will be able to leverage prime services across asset classes and products on Ripple Prime’s single platform, which is in turn set to improve capital efficiency and simplify operations.
Noel Kimmel, president of Ripple Prime, said: “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.
“Brevan Howard continues to be at the forefront of innovation across increasingly intertwined traditional and digital markets.”
The deal comes as large investment managers look for prime brokerage that covers both traditional and digital markets within a regulated, enterprise-grade framework.
Alan McGroarty, group chief operating officer at Brevan Howard, added: “As digital and traditional markets become more interconnected, the need for institutional-quality digital asset infrastructure that enables a seamless experience for investors is only growing.
“Ripple has built a differentiated platform that we expect will provide our investment teams with increased operational ease and capital efficiency.”
The new mandate builds on Brevan Howard’s existing backing of Ripple. Funds managed by Brevan Howard affiliates took part in Ripple’s $500 million strategic investment round in 2025, underscoring confidence in Ripple’s growth trajectory and long-term vision.
Ripple Prime was formed after Ripple bought multi-asset prime broker Hidden Road for $1.25 billion, a deal announced in April 2025. The acquisition made Ripple the first crypto company to own and run a global, multi-asset prime broker.
The latest deal also comes weeks after Ripple Prime launched a Delta One business offering total return swaps across US-listed equities, indices and digital assets, with 24/7 access and cross-margining.