By PYMNTS | October 7, 2026
Ripple has announced a major expansion of its institutional financial services footprint, revealing that Ripple Prime will provide comprehensive multi-asset prime brokerage, clearing, and financing services to funds managed by Brevan Howard. The agreement, detailed in a press release issued on Tuesday, October 6, marks a significant deepening of the relationship between Ripple, a prominent provider of blockchain solutions spanning both traditional and digital finance, and Brevan Howard, a global alternative investment manager renowned for its specialization in global macro strategies and digital assets.
According to the announcement, this strategic partnership reflects a rapidly accelerating demand from sophisticated investment managers for prime brokerage solutions capable of seamlessly bridging traditional and digital markets. Institutional clients increasingly require infrastructure that is not only robust and enterprise-grade, but also fully regulated. As the alternative investment landscape continues to evolve, firms are seeking out trusted partners who can navigate the complexities of multi-asset trading while maintaining the highest standards of regulatory compliance and operational security.
Noel Kimmel, president of Ripple Prime, highlighted the significance of the partnership in the company’s press release, pointing to the selective nature of institutional trust at the highest levels of global finance. There are very few firms currently equipped to provide the next generation of prime services that sophisticated investors expect, Kimmel noted, adding that Brevan Howard’s decision to place its trust in Ripple Prime serves as a clear recognition of the firm’s strong competitive position and sophisticated cross-asset capabilities.
The partnership underscores a broader, ongoing transformation in global financial markets. In a report published Wednesday, October 7, The Wall Street Journal highlighted the announcement as a prime example of how Ripple has successfully broken into Wall Street. Over recent years, the company has methodically transitioned from its origins as a digital asset and cross-border payments specialist into a formidable player across broader financial market infrastructure, competing directly with incumbent financial institutions in highly lucrative sectors.
Among these areas of expansion, Ripple has emerged as a noteworthy competitor in the financing of leveraged exchange-traded funds, a lucrative business segment that has historically been dominated by major traditional global banks. According to the reporting, Ripple Prime is already actively collaborating with several exchange-traded fund providers and is aggressively expanding its operational scope to encompass hedge funds and a wider array of institutional investment managers.
Discussing this strategic growth trajectory with The Wall Street Journal, Kimmel acknowledged the expanding footprint of the firm’s prime brokerage operations, noting that it has definitively become a growing and meaningful part of the business, bringing considerable excitement to the team as they scale their service offerings.
The foundation for Ripple’s current prime brokerage capabilities was laid last year through the company’s landmark $1.25 billion acquisition of prime brokerage firm Hidden Road. At the time of that multi-billion-dollar transaction, Ripple emphasized that the acquisition established it as the first cryptocurrency company to own and operate a multi-asset prime broker. Public statements made during the acquisition revealed that Hidden Road was clearing an astonishing $3 trillion per year across various global markets, servicing more than 300 institutional customers. Company executives expressed confidence at the time that, with the substantial financial backing and technological resources of Ripple, Hidden Road was uniquely positioned to evolve into the largest nonbank prime broker in the world.
Building upon that strategic integration, Ripple announced in November that it was officially launching digital asset spot prime brokerage capabilities tailored specifically for the United States market. The company successfully combined its existing regulatory licenses with the advanced technological and operational solutions of Hidden Road under the unified banner of Ripple Prime. This consolidation was designed to empower institutional clients with streamlined, centralized access to a diverse array of asset classes, including foreign exchange, digital assets, derivatives, swaps, and fixed income, all through a single, cohesive institutional gateway.
