Brevan Howard Expands Ripple Partnership to Use Prime Services
Brevan Howard, a $35 billion asset management firm, is deepening its collaboration with Ripple beyond its existing investment. The firm will now utilize Ripple Prime’s brokerage, clearing, and financing services for its funds across various asset classes. This expansion follows Brevan Howard’s participation in Ripple’s $500 million funding round last year.
Alan McGroarty, chief operating officer of Brevan Howard Group, highlighted the growing demand for institutional-grade digital asset infrastructure as digital and traditional markets become more interconnected. He expects Ripple’s platform to enhance operational efficiency and capital utilization for investment teams.
Ripple Prime, established after Ripple acquired Hidden Road, offers institutional investors infrastructure for trading and financing across different asset classes. The platform recently secured a BBB credit rating from KBRA and aims to expand into equity brokerage and swap transactions. It also obtained $200 million in debt financing from Neuberger Berman to bolster its collateral-backed lending services.
The expanded agreement with Brevan Howard aligns with Ripple Prime’s strategy to provide its infrastructure to larger funds, following its earlier integration with Hyperliquid to connect with decentralized finance markets.