Key Takeaways
- • Ripple Prime secures Brevan Howard, a $35 billion hedge fund, as a client for multi-asset prime brokerage, clearing, and financing services, marking an expansion of an existing relationship that began with Brevan Howard's investment in Ripple's $500 million funding round in 2025.
- • The partnership validates Ripple Prime's institutional infrastructure strategy following its acquisition of Hidden Road, positioning the unit to serve large alternative asset managers seeking exposure to both traditional and digital markets.
- • Ripple's valuation has increased to $50 billion (from $40 billion post-funding round) following a $750 million buyback program completed earlier in 2026, reflecting growing institutional demand for crypto-native prime brokerage services.
- • Ripple Prime recently added Hyperliquid as its first direct link to a decentralized finance platform, expanding the breadth of trading venues and asset classes accessible through its infrastructure.
Summary
Ripple Prime has formalized an expanded partnership with Brevan Howard, one of the world's largest hedge funds managing approximately $35 billion in assets, to provide comprehensive prime brokerage services. Under the arrangement, Ripple Prime will handle multi-asset prime brokerage, clearing, and financing across both traditional and digital markets—a service set designed to address institutional demand for integrated infrastructure spanning legacy and crypto ecosystems.
The relationship represents a natural evolution of an existing strategic connection. Brevan Howard's affiliates participated in Ripple's $500 million Series C funding round in 2025, which valued the company at $40 billion. The shift from minority investor to prime brokerage client underscores confidence in Ripple's institutional capabilities and reflects the hedge fund's operational priorities around managing exposure to digital assets alongside traditional securities and derivatives.
Ripple Prime itself was established through Ripple's acquisition of Hidden Road, an institutional prime broker. The unit now serves banks, hedge funds, and other large institutional investors seeking consolidated access to traditional and digital trading venues. The addition of Brevan Howard as a client follows Ripple Prime's recent integration of Hyperliquid, marking the first direct link to a decentralized finance protocol offered through the platform. This expansion broadens the scope of underlying trading venues and liquidity sources available to institutional clients.
The timing reflects Ripple's broader valuation momentum. Following the $500 million funding round at $40 billion valuation in 2025, Ripple completed a $750 million share buyback program earlier in 2026, subsequently raising the company's valuation to $50 billion. According to Brevan Howard Group COO Alan McGroarty, institutional investors increasingly require infrastructure that seamlessly connects traditional and digital capital markets, positioning Ripple Prime to capture growing demand from the alternative investment community.
The relationship represents a natural evolution of an existing strategic connection. Brevan Howard's affiliates participated in Ripple's $500 million Series C funding round in 2025, which valued the company at $40 billion. The shift from minority investor to prime brokerage client underscores confidence in Ripple's institutional capabilities and reflects the hedge fund's operational priorities around managing exposure to digital assets alongside traditional securities and derivatives.
Ripple Prime itself was established through Ripple's acquisition of Hidden Road, an institutional prime broker. The unit now serves banks, hedge funds, and other large institutional investors seeking consolidated access to traditional and digital trading venues. The addition of Brevan Howard as a client follows Ripple Prime's recent integration of Hyperliquid, marking the first direct link to a decentralized finance protocol offered through the platform. This expansion broadens the scope of underlying trading venues and liquidity sources available to institutional clients.
The timing reflects Ripple's broader valuation momentum. Following the $500 million funding round at $40 billion valuation in 2025, Ripple completed a $750 million share buyback program earlier in 2026, subsequently raising the company's valuation to $50 billion. According to Brevan Howard Group COO Alan McGroarty, institutional investors increasingly require infrastructure that seamlessly connects traditional and digital capital markets, positioning Ripple Prime to capture growing demand from the alternative investment community.
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