Ripple Prime Lands $35 Billion Hedge Fund Brevan Howard As Client

TLDR

• Ripple Prime will provide multi-asset prime brokerage, clearing, and financing services to Brevan Howard funds.
• The deal builds on Brevan Howard’s earlier investment in Ripple’s $500 million funding round.
• Brevan Howard manages about $35 billion in assets, according to the announcement.
• Ripple Prime was formed after Ripple acquired institutional prime broker Hidden Road.
• Ripple Prime recently added Hyperliquid, its first direct link to a DeFi platform.

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Ripple has expanded its partnership with Brevan Howard, one of the world’s largest hedge funds. The crypto company announced that Ripple Prime will now handle multi-asset prime brokerage, clearing, and financing for Brevan Howard funds.

Ripple Prime will now provide multi-asset prime brokerage, clearing and financing services to Brevan Howard, expanding our relationship with one of the world’s leading alternative investment managers.

Read the full announcement to see how Ripple Prime is bringing traditional and…

— Ripple (@Ripple) October 6, 2026

Ripple Prime is the trading and brokerage arm Ripple built after buying institutional prime broker Hidden Road. It serves banks, hedge funds, and other large investors who trade across both traditional and digital markets.

This is not a new relationship. Brevan Howard’s affiliates invested in Ripple last year as part of a $500 million funding round. That round valued Ripple at $40 billion.

How The Partnership Has Grown

Ripple’s valuation later rose to $50 billion after the company completed a $750 million buyback program earlier this year. Brevan Howard currently oversees roughly $35 billion in client assets.

Alan McGroarty, Group COO of Brevan Howard, said the firm sees growing demand for infrastructure that connects digital and traditional markets. He said Ripple’s platform should give the fund’s investment teams more operational ease and capital efficiency.

Ripple described the deal as a response to demand from large investment managers who want prime brokerage services that cover both crypto and traditional assets. The company said its platform operates within a regulated framework built for enterprise clients.

Through the expanded deal, Brevan Howard will get access to Ripple Prime’s full platform. That includes crypto assets like XRP and Ripple’s stablecoin, RLUSD.

Ripple Prime’s Recent Growth

Ripple Prime has been adding new capabilities throughout the year. In August, the unit launched stock trading through its Delta One desk.

That desk lets clients trade total return swaps tied to U.S. equities. The service is aimed at hedge funds, market makers, and exchange traded fund issuers.

Earlier this year, credit rating agency KBRA gave Ripple Prime a BBB rating. KBRA said the business is still scaling and is working to add more products, including equity prime brokerage and swaps.

Ripple Prime also secured a $200 million debt facility from Neuberger Berman. The company said the funding will go toward expanding institutional margin lending.

Ripple Prime recently connected to Hyperliquid, a decentralized finance trading venue. This marks the platform’s first direct integration with a DeFi exchange.

The partnership with Brevan Howard reflects Ripple’s push to serve institutional clients who want one platform for both digital and traditional assets. Ripple has been building out these services since acquiring Hidden Road.

Brevan Howard’s continued involvement with Ripple, both as an investor and now as a client, shows the fund’s interest in digital asset infrastructure. The hedge fund first backed Ripple during last year’s funding round and has expanded that relationship since.

Ripple has not announced a timeline for when the expanded services will be fully operational for Brevan Howard. The company said the rollout builds on the existing relationship between the two firms.