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Brevan Howard funds will use Ripple Prime for multi-asset prime brokerage, clearing and financing, expanding the hedge fund's relationship with Ripple. Ripple Prime was formed after Ripple acquired institutional prime broker Hidden Road. Brevan Howard manages about $35 billion in assets.
Why it matters
The agreement brings a large alternative asset manager further into Ripple's institutional infrastructure. Brevan Howard Group COO Alan McGroarty said the platform is expected to give investment teams greater operational ease and capital efficiency as digital and traditional markets become more interconnected.
The partnership builds on Brevan Howard's existing investment in Ripple and its participation in Ripple's $500 million strategic funding round last year. Ripple Prime has also added a $200 million debt facility from Neuberger Berman to expand institutional margin lending, and integrated with Hyperliquid, its first direct connection to a DeFi venue.
Market impact
The arrangement broadens Ripple Prime's role beyond digital assets into multi-asset brokerage, clearing and financing. KBRA rated the business BBB earlier this year, while noting it is still scaling and plans to diversify into products including equity prime brokerage and swaps.
The deal is a concrete institutional adoption signal for Ripple's prime brokerage platform. Its broader reach will depend on execution as the business scales and develops additional products.
Frequently asked questions
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What services will Ripple Prime provide to Brevan Howard funds?
Ripple Prime will provide multi-asset prime brokerage, clearing and financing services.
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How large is Brevan Howard?
The hedge fund manages about $35 billion in assets.
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How does the deal build on the firms' existing relationship?
Brevan Howard has already invested in Ripple and participated in Ripple's $500 million strategic funding round last year.
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What is Ripple Prime's connection to Hidden Road?
Ripple Prime was formed after Ripple acquired institutional prime broker Hidden Road.
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What expansion plans and developments surround Ripple Prime?
Ripple Prime secured a $200 million debt facility from Neuberger Berman for institutional margin lending and integrated with Hyperliquid, its first direct DeFi venue connection. KBRA said the business is still scaling and plans to diversify into products including equity prime brokerage and swaps.
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