Brevan Howard Taps Ripple Prime for Institutional Crypto Brokerage
Ripple has secured a deal with Brevan Howard, a $35 billion fund manager focused on macro and digital assets, to provide multi-asset prime brokerage, clearing, and financing services through Ripple Prime. Brevan Howard's investment teams will be able to use the platform for clearing, lending, multi-asset management, and swaps between fiat and digital assets. The expanded relationship builds on ties that began in 2025 and adds a major alternative investment manager as an enterprise client.
Brevan Howard, a $35 billion macro and digital-asset manager, first backed Ripple in a 2025 closed funding round. Ripple Labs raised $500 million then, initially valued at $40 billion and later $50 billion. Other participants included affiliates of Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital and Marshall Wace.
Ripple Prime was formed after Ripple bought Hidden Road in October 2025 for $1.5 billion. The platform supports cross-margin positions and lets clients keep a counterparty relationship across foreign exchange, derivatives, fixed yield and other supported services. Brevan Howard funds will now receive multi-asset prime brokerage, clearing and financing.
The deal may signal deeper institutional comfort with crypto market infrastructure, potentially affecting pension funds, asset managers, and retail investors indirectly through greater liquidity or counterparty concentration. It could also invite more regulatory scrutiny and operational risk management demands. For everyday users, benefits may appear as more reliable fiat-crypto settlement and financing, though risks around leverage and interconnectedness could grow if similar arrangements spread.