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Ripple has expanded its agreement with Brevan Howard, a fund manager overseeing about $35 billion, to provide its funds with multi-asset prime brokerage, clearing, and financing through Ripple Prime.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n Ripple announced<\/a> on Oct. 6 that Brevan Howard funds will use its prime brokerage platform across traditional and digital markets. Under the agreement, the manager will receive services across several asset classes and products through a unified platform.<\/p>\n For Brevan Howard\u2019s investment teams, the expected benefit centers on managing trading operations and capital, according to Group Chief Operating Officer Alan McGroarty. He said the growing connection between digital and traditional markets has increased the need for institutional-quality digital asset infrastructure.<\/p>\n \u201cRipple has built a differentiated platform that we expect will provide our investment teams with increased operational ease and capital efficiency,\u201d McGroarty said.<\/p>\n<\/blockquote>\n <\/p>\n The new service agreement follows an earlier investment relationship. According to Ripple\u2019s announcement, funds managed by Brevan Howard affiliates participated in its $500 million strategic investment in 2025.<\/p>\n As crypto.news previously reported, Ripple raised $500 million<\/a> on Nov. 5, 2025, at a $40 billion valuation. The company\u2019s funding announcement named Fortress Investment Group affiliates, Citadel Securities affiliates, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace among the investors.<\/p>\n In that announcement, Ripple described the funding as new common equity and said it chose to accept the investment because of the value of closer relationships with financial partners. The company said the transaction followed a separate $1 billion tender offer at the same valuation.<\/p>\n According to the November release, Ripple had repurchased more than a quarter of its outstanding shares in recent years, providing liquidity to employees and early investors. At the time, the company also reported completing six acquisitions in just over two years, including two transactions valued above $1 billion each.<\/p>\n A July 1 report examining Ripple\u2019s valuation<\/a> put the company\u2019s valuation near $50 billion following a $750 million share buyback earlier in 2026. The report described the transaction as a company share repurchase.<\/p>\n For institutions seeking U.S. stock exposure, Ripple Prime\u2019s service expansion already includes an equity derivatives business. In its Aug. 27 announcement, Ripple said the Delta One offering was live and supported total return swaps linked to U.S.-listed equities, indexes and digital assets.<\/p>\n An Aug. 27 report covering the U.S. equity derivatives launch<\/a> explained that total return swaps provide exposure to an asset\u2019s economic performance without requiring direct ownership. Payments between the parties generally depend on the referenced asset\u2019s return and the financing terms agreed under the contract.<\/p>\n According to Ripple\u2019s launch announcement, the product serves hedge funds, asset managers and other financial institutions, with arrangements tailored to their investment periods, risk requirements and reporting needs.<\/p>\n Within the platform, Ripple said clients can maintain one counterparty relationship and cross-margin supported positions across asset classes around the clock. The company listed foreign exchange, derivatives, fixed income and digital assets among its existing markets.<\/p>\n Ripple also said its Delta One operation works in clearing and financing rather than alongside a proprietary trading or market-making business. In the same release, the company reported that Ripple Prime held more than $1 billion in regulatory net capital.<\/p>\n The August coverage traced Ripple Prime\u2019s origins to the $1.25 billion purchase of Hidden Road, which Ripple completed in October 2025 after announcing the transaction in April. According to that report, the acquired business already provided institutional brokerage, clearing, and financing across traditional and digital assets.<\/p>\n Before introducing Delta One, Ripple Prime completed a $275 million private placement of senior unsecured notes on Aug. 18. In its financing announcement, Ripple said the proceeds would support working capital and general corporate purposes within a regulated entity as the brokerage expanded its U.S. business.<\/p>\n\n\n
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Ripple Prime will serve an existing institutional investor<\/h2>\n
U.S. equity swaps extend the brokerage\u2019s trading services<\/h2>\n
Debt financing adds capacity for U.S. operations<\/h2>\n