On October 6, Ripple and Brevan Howard announced that Ripple Prime will provide the investment manager’s funds with multi-asset prime brokerage, clearing and financing services across traditional and digital markets. Brevan Howard oversees approximately $35 billion in assets, according to the companies’ announcement.
The arrangement expands the relationship beyond Brevan Howard-affiliated funds’ previous investment in Ripple, placing Ripple Prime in a more operational role supporting Brevan Howard’s investment teams, including trading and the movement of capital across markets.
Ripple Prime’s expanded mandate
Under an expanded relationship, Ripple Prime will provide brokerage, clearing and financing to Brevan Howard funds in traditional and digital markets, according to the companies’ announcement. The companies present the arrangement as a multi-asset mandate rather than one limited to digital-asset execution.
Ripple Prime was created as a multi-asset prime-brokerage operation after Ripple acquired Hidden Road, according to The Block.
Clearing, financing and capital efficiency
Brevan Howard Group COO Alan McGroarty said the platform is expected to improve operational ease and capital efficiency for the firm’s investment teams. The emphasis on clearing and financing suggests the firms see the arrangement as addressing more than trade access.
Clearing concerns the process by which trades are settled and obligations between parties are managed. Financing can provide the balance-sheet support for positions, while prime-brokerage arrangements can consolidate those functions. In the announcement, Brevan Howard presented the anticipated benefit in operational and capital-efficiency terms, rather than making a claim about investment performance.
That distinction matters for the way the agreement is positioned. Ripple Prime will be supporting Brevan Howard funds across traditional and digital markets, but the companies have not outlined trading strategies, asset allocations or volumes connected to the mandate. The announcement instead centres on the institutional plumbing behind those activities.
For Ripple, the arrangement supplies a named asset-management client for the broader prime-brokerage business. For Brevan Howard, it adds a provider whose stated remit combines conventional market services with digital-market coverage. Whether the relationship expands further will depend on implementation by the funds and the services they elect to use.
From Ripple investor to prime client
The services deal builds on an existing financial connection. Brevan Howard-affiliated funds participated in Ripple’s $500 million strategic investment round announced in November 2025, an event Ripple said valued the company at $40 billion.
That round was led by Fortress and Citadel Securities, according to Ripple’s November 2025 announcement. Brevan Howard’s participation put affiliated funds among the strategic investors; the October agreement turns that investor relationship into a client-services arrangement for Ripple Prime.
Brevan Howard’s roughly $35 billion in assets under management gives the mandate particular institutional weight, although that figure does not indicate how much capital will be routed through Ripple Prime. The companies have said only that the services will be provided to Brevan Howard funds across the two market categories.
The immediate milestone is therefore the rollout of brokerage, clearing and financing under the new mandate. McGroarty’s stated focus on operational ease and capital efficiency makes those back-office and balance-sheet functions central to the case the firms have put forward for the expanded relationship.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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