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ZEC $1,379 Ripple expands Brevan Howard deal for prime brokerage services
Ripple Prime will give Brevan Howard funds access to multi-asset prime brokerage, clearing and financing across traditional and digital markets.
Key takeaways
- Over $3 trillion cleared. Ripple Prime says it clears more than $3 trillion annually across markets.
- More than 300 clients. The platform says it serves more than 300 institutional customers.
- $500 million round. Brevan Howard affiliates took part in Ripple's $500 million strategic investment in 2025.
What happened
Ripple expanded its relationship with Brevan Howard, an alternative investment manager. Ripple Prime will give Brevan Howard funds access to multi-asset prime brokerage, clearing and financing services. The two companies announced the expanded agreement on October 6, 2026. The services span traditional and digital markets.
Noel Kimmel, President of Ripple Prime, said Brevan Howard's trust is recognition of a strong competitive position and cross-asset capabilities. Alan McGroarty, Group COO of Brevan Howard, said Ripple has built a differentiated platform that should give its investment teams easier operations and better capital efficiency. The companies did not disclose the financial terms of the expanded agreement.
Why it matters
The arrangement places a large alternative investment manager on a platform that serves both traditional and digital markets. Prime brokerage covers functions such as trade execution, clearing, financing and risk management. The platform works across foreign exchange, fixed income, derivatives and other markets, and it supports cross-margining and risk-based margin financing.
Ripple Prime says it serves more than 300 institutional customers and clears more than $3 trillion annually across markets. The expanded relationship builds on Ripple's effort to move beyond crypto and build a position across Wall Street.
What the data shows
Ripple bought Hidden Road for $1.25 billion before the unit became Ripple Prime. Brevan Howard affiliates took part in Ripple's $500 million strategic investment in 2025. Ripple Prime says it clears more than $3 trillion annually and serves more than 300 institutional customers.
Background
Ripple Prime was created after Ripple completed its acquisition of Hidden Road in 2025. In August 2026, Ripple Prime launched its Delta One business, which lets institutional clients access total return swaps across U.S.-listed equities, indices and digital assets.
Questions readers ask
What is Ripple Prime?
Ripple Prime is the business created after Ripple completed its acquisition of Hidden Road in 2025. It provides prime brokerage, clearing and financing, and it says it serves more than 300 institutional customers.
What did Ripple and Brevan Howard announce?
The companies announced an expanded agreement on October 6, 2026. Under it, Brevan Howard funds get access to multi-asset prime brokerage, clearing and financing through Ripple Prime.
Did Ripple and Brevan Howard disclose the financial terms?
No. The companies did not disclose the financial terms of the expanded agreement.
How much did Ripple pay for Hidden Road?
Ripple bought Hidden Road for $1.25 billion, and the business became Ripple Prime.
