The collaboration deepens an existing professional tie between the two entities, which began when Brevan Howard affiliates participated in Ripple’s $500 million strategic investment round in 2025. According to Alan McGroarty, Group Chief Operating Officer at Brevan Howard, the firm sought a more unified platform to streamline capital efficiency and trading operations as digital and traditional markets continue to converge.
Ripple Prime has aggressively expanded its suite of offerings to support such institutional clients. In August, the platform launched its Delta One service, which facilitates total return swaps linked to U.S.-listed equities and indexes. This derivatives business allows institutions to gain market exposure without direct asset ownership. To fuel this growth, Ripple completed a $275 million private placement of senior unsecured notes, which received a BBB investment-grade rating from KBRA. The brokerage now operates with over $1 billion in regulatory net capital, leveraging technology acquired through the $1.25 billion purchase of Hidden Road in 2025.
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