Ripple Brevan Howard partnership expands. Ripple Prime will offer services to Brevan Howard funds.
Under the agreement, Ripple Prime provides multi-asset prime brokerage. It also offers clearing and financing. This builds on last year’s partnership. At that time, Brevan Howard affiliates invested in Ripple.
Ripple Brevan Howard partnership expands services
Ripple said this reflects growing demand from top-tier investment managers. They want prime brokerage across traditional and digital markets. The platform includes crypto assets like XRP and RLUSD.
Alan McGroarty is Group COO of Brevan Howard. Furthermore, he said the need for institutional-quality digital asset infrastructure continues to grow. He also said Ripple has built a differentiated platform.
Ripple Prime adds stock trading and Delta One
Additionally, Ripple Prime launched stock trading in August. It started with its Delta One business. The trading desk enables total return swaps on U.S. stocks. It targets hedge funds, market makers, and ETF issuers.
Partnership dates back to $500M investment
Meanwhile, the partnership dates back to last year. Brevan Howard affiliates invested in a $500 million round. That valued Ripple at $40 billion. Ripple’s valuation rose to $50 billion. That followed a $750 million buyback earlier this year.