Ripple expands Brevan Howard deal with prime brokerage services

Ripple Prime has expanded a commercial arrangement with Brevan Howard, under which the prime broker will supply multi-asset prime brokerage, clearing and financing services to funds managed by the alternative investment firm. The broadened agreement extends access to Ripple Prime’s capabilities across both traditional and digital asset markets, according to the announcement. The move extends an existing relationship between the companies. Brevan Howard-affiliated funds were part of a $500 million investment in Ripple in 2025 that set Ripple’s valuation at $40 billion. Brevan Howard, which manages about $35 billion in assets, serves a range of global clients including sovereign wealth funds, corporate and public pension plans, foundations and endowments. Brevan Howard’s chief operating officer, Alan McGroarty, framed the deal in terms of market convergence, saying institutional-quality digital-asset infrastructure is increasingly necessary as traditional and digital markets become more interconnected. The announcement positions Ripple Prime as a provider aiming to bridge those markets for institutional investors. The agreement arrives as Ripple continues to scale its prime brokerage business. In August, Ripple Prime raised $275 million through a senior note offering to support expansion into prime brokerage, financing and multi-asset clearing, and the unit was launched after Ripple acquired prime broker Hidden Road for about $1.25 billion in 2025.