Ripple expands prime brokerage services to Brevan Howard funds

Ripple has expanded its partnership with Brevan Howard, with its prime brokerage platform, Ripple Prime, set to provide multi-asset prime brokerage, clearing, and financing services to the fund manager's entities. This collaboration deepens the relationship established last year when Brevan Howard affiliates invested in Ripple.

Ripple stated that the expansion reflects a growing demand from top-tier investment managers for prime brokerage solutions that span both traditional and digital markets within a regulated framework. The unified platform will grant Brevan Howard access to crypto assets, including XRP and RLUSD.

Alan McGroarty, Group COO of Brevan Howard, highlighted the increasing need for institutional-quality digital asset infrastructure as traditional and digital markets become more interconnected. He noted that Ripple's platform is expected to enhance operational ease and capital efficiency for Brevan Howard's investment teams.

Earlier this year, Ripple Prime launched stock trading services through its Delta One business, offering investors the ability to execute total return swaps on U.S. stocks. This service targets hedge funds, market makers, and ETF issuers.

The partnership between Ripple and Brevan Howard dates back to the previous year, when Brevan Howard affiliates participated in a $500 million funding round that valued Ripple at $40 billion. Ripple's valuation subsequently rose to $50 billion earlier this year following a $750 million buyback program.