Ripple Prime will offer Brevan Howard’s funds multi-asset prime brokerage, clearing, and financing services across both traditional and digital markets as part of an expanded partnership. The agreement further strengthens Ripple’s institutional services footprint, potentially benefiting its broader XRP ecosystem.
Ripple said the expanded relationship reflects growing demand from major investment managers for prime brokerage services covering both traditional and digital assets within what it describes as a regulated, enterprise-grade environment. Brevan Howard is a global alternative investment manager overseeing $35 billion in assets and employing roughly 1,000 people.
The two companies also have an existing financial connection. Funds managed by Brevan Howard affiliates took part in Ripple’s $500 million strategic investment round in 2025. As institutional participation in digital assets grows, firms are increasingly focused on infrastructure covering custody, execution, and financing.
What Will Ripple Prime Provide?
The agreement covers multi-asset prime brokerage, clearing, and financing services for Brevan Howard’s funds. Through Ripple Prime’s unified platform, the investment manager will gain access to services across multiple asset classes and products. Ripple says the platform is intended to improve capital efficiency while simplifying operations.
However, the announcement does not specify which asset classes or funds will participate, nor does it disclose fees, transaction volumes, or a timeline for implementation. As a result, the size and operational scope of the mandate remain unclear.
Noel Kimmel, President of Ripple Prime, said the company is among the limited number of firms capable of delivering the next generation of prime services expected by sophisticated investors. He added that Brevan Howard’s confidence in Ripple Prime highlights its competitive position and cross-asset capabilities.
Ripple says it holds more than 85 licenses and provides services spanning payments, custody, prime brokerage, and treasury management. The company also identifies RLUSD and XRP as assets supporting its broader ecosystem. However, the Brevan Howard announcement does not state that either asset will be used by the funds as part of the agreement.
Platform Expansion Rather Than a Direct XRP Catalyst
The core focus of the deal is consolidation, giving Brevan Howard access to prime brokerage services across traditional and digital markets through a single platform. Brevan Howard Group COO Alan McGroarty said Ripple has developed a differentiated platform that the firm expects will give its investment teams greater operational efficiency and improved capital efficiency. These are the firm’s expectations rather than disclosed measurements of actual savings or performance.
McGroarty also highlighted the growing convergence between traditional and digital markets and the importance of institutional-grade infrastructure. Ripple characterized the agreement as an expansion of an existing relationship, building on the investment made in 2025.
That distinction is important for XRP investors evaluating the announcement. Brevan Howard’s adoption of Ripple’s brokerage infrastructure could increase Ripple’s institutional presence, but it does not by itself establish that XRP is necessary for the brokerage, clearing, or financing services. It also does not confirm that XRP will directly capture value from the expanded business.
Ripple’s emphasis on a regulated, enterprise-grade platform, together with its stated total of more than 85 licenses, provides additional context for its institutional expansion strategy. The latest agreement represents another step in Ripple Prime’s growth as it expands its relationship with a major global alternative investment manager.
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