Brevan Howard Goes Prime Time with Ripple — $35B Asset Manager Taps XRP's Brokerage Playbook 📈

Ripple Prime will deliver multi-asset prime brokerage, clearing and financing services to funds managed by Brevan Howard under an expanded agreement announced Tuesday, deepening a relationship that began with a 2025 minority investment by the hedge fund's affiliates.

Brevan Howard, a global alternative investment manager with about $35 billion in assets under management and roughly 1,000 team members, will gain access to Ripple Prime's unified platform spanning traditional and digital asset markets, including crypto assets such as XRP and RLUSD. The deal extends Ripple's institutional services reach and marks a further step in the build-out of its prime brokerage unit.

The relationship has a financial foundation. Funds managed by Brevan Howard affiliates participated in Ripple's $500 million strategic investment in 2025, a round that valued the company at $40 billion. The newly expanded mandate layers operational services on top of that earlier capital tie-up, giving the asset manager a single counterparty for execution, clearing and financing across asset classes.

Alan McGroarty, Group COO of Brevan Howard, framed the expansion in terms of client demand. "As digital and traditional markets become more interconnected, the need for institutional-quality digital asset infrastructure that enables a seamless experience for investors is only growing," McGroarty said. Ripple said the agreement "reflects growing demand from top-tier investment managers globally for prime brokerage solutions across traditional and digital markets within a regulated, enterprise-grade framework."

The move fits into a broader capital plan at Ripple Prime. In August, the unit raised $275 million through a senior note offering to fund its expansion into prime brokerage, financing and multi-asset clearing. Ripple launched the business after acquiring prime broker Hidden Road for about $1.25 billion in 2025. Brevan Howard's client base includes sovereign wealth funds, corporate and public pension plans, foundations and endowments, all of which could now route certain digital-asset activity through Ripple's platform.