- Ripple Prime will provide multi-asset prime brokerage, clearing and financing services to Brevan Howard funds.
- Brevan Howard manages approximately $35 billion in assets and previously invested in Ripple, including participating in its $500 million strategic funding round.
- The expanded partnership follows Ripple Prime’s push into institutional margin lending, traditional financial products and DeFi through its Hyperliquid integration.
Ripple and Brevan Howard are expanding their relationship as the hedge fund increases its use of Ripple’s institutional digital asset infrastructure.
Under the expanded partnership, Ripple Prime will provide Brevan Howard funds with multi-asset prime brokerage, clearing and financing services.
Ripple Prime was formed following Ripple’s acquisition of institutional prime broker Hidden Road and is designed to provide institutional investors with infrastructure spanning digital and traditional markets.
Brevan Howard Group COO Alan McGroarty said growing connections between the two markets are increasing demand for institutional-grade infrastructure.
“Ripple has built a differentiated platform that we expect will provide our investment teams with increased operational ease and capital efficiency,” McGroarty said.
Brevan Howard Expands Its Relationship With Ripple
The partnership builds on Brevan Howard’s existing investment in Ripple.
The hedge fund participated in Ripple’s $500 million strategic funding round last year and already had an investment relationship with the company.
Brevan Howard manages approximately $35 billion in assets, making the expanded relationship another significant institutional partnership for Ripple.
The new arrangement will give its investment teams access to Ripple Prime’s brokerage, clearing and financing infrastructure across multiple asset classes.
Ripple Prime Expands Institutional Services
Ripple Prime has continued expanding its institutional capabilities since Ripple acquired Hidden Road.
Earlier this year, KBRA assigned Ripple Prime a BBB rating, while noting that the business remained in a scaling phase.
The rating agency also highlighted Ripple Prime’s plans to diversify its services into areas including equity prime brokerage and swaps.
Ripple Prime later secured a $200 million debt facility from Neuberger Berman to support the expansion of its institutional margin lending business.
Ripple Prime Moves Into DeFi
Ripple has also been expanding Ripple Prime beyond traditional institutional market infrastructure.
The company added Hyperliquid to the platform earlier this year, marking Ripple Prime’s first direct integration with a decentralized finance venue.
The integration provides another connection between institutional prime brokerage infrastructure and onchain trading markets.
With Brevan Howard expanding its use of the platform, Ripple Prime is continuing to build out services spanning digital assets, traditional markets and DeFi.
