XRP
Ripple Prime Secures Brevan Howard as Institutional Client
Ripple has partnered with hedge fund Brevan Howard to provide prime brokerage services, though the institutional agreement does not directly pass revenue to XRP holders.
Ripple announced on October 6, 2026, that its prime brokerage unit, Ripple Prime, has taken over trade execution, clearing, and financing services for hedge fund Brevan Howard, which manages approximately $35 billion in assets. Ripple Prime was established following Ripple's $1.25 billion acquisition of Hidden Road.
Brevan Howard already maintained ties with the firm, having participated through affiliates in Ripple's $500 million fundraising round in November 2025 alongside investors such as Citadel Securities, Fortress, and Pantera Capital, which valued Ripple at $40 billion. Through the prime brokerage arrangement, Brevan Howard can pool collateral across both traditional markets and 24/7 cryptocurrency venues.
Despite the corporate expansion, XRP traded down at $1.36 on October 8, representing a 9% decline over seven days and sitting well below its July 2025 peak of $3.65. The article notes that revenue generated from prime brokerage services, including margin interest and clearing fees, accrues directly to Ripple as a private company rather than conferring financial yields or governance rights to XRP token holders.
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