Brevan Howard, the global alternative investment manager with about $35 billion in assets, will use Ripple Prime for multi-asset prime brokerage, clearing and financing across traditional and
Brevan Howard, the global alternative investment manager with about $35 billion in assets, will use Ripple Prime for multi-asset prime brokerage, clearing and financing across traditional and digital markets. The expanded agreement builds on Brevan Howard-affiliated funds participating in Ripple’s $500 million strategic investment round in 2025.
However, Ripple has not disclosed which assets Brevan Howard will trade, whether transactions will settle through XRP Ledger, or whether XRP or RLUSD will be used under the mandate.
Ripple Prime Is Much Bigger Than XRP TradingRipple Prime grew out of Ripple’s $1.25 billion acquisition of Hidden Road, which turned the company into the owner of a global multi-asset prime broker.
Its platform now handles more than $3 trillion in annual clearing volume for over 300 institutional customers and covers digital assets, foreign exchange, fixed income, derivatives, swaps and precious metals.
The Hidden Road acquisition created possible connections between those markets and Ripple’s blockchain infrastructure, but using Ripple Prime does not automatically mean every trade touches XRP.
Ripple Prime already supports dozens of digital assets alongside conventional financial products. Its U.S. spot brokerage includes XRP and RLUSD, while Ripple has also discussed using XRP as institutional collateral.
Where XRP Could Eventually BenefitRipple itself says XRP and RLUSD underpin its broader institutional capabilities, while Ripple Prime has been integrating blockchain settlement infrastructure.
That creates several possible routes for XRP exposure: settlement, collateral, liquidity or transfers between markets. But none has been confirmed specifically for Brevan Howard.
RLUSD may actually have the clearer near-term institutional role. Stablecoin liquidity on the XRP Ledger recently reached about $1.3 billion, with RLUSD representing more than 90% of it.
Ripple is simultaneously building institutional credit markets around RLUSD and XRPL.
