Ripple Expands Brevan Howard Partnership With Prime Brokerage and Clearing Services
Ripple Prime will provide multi-asset prime brokerage, clearing, and financing services to Brevan Howard's funds under an expanded partnership announced October 6.
Read this event in русский, português (Brasil)
Why it matters
The partnership expands Ripple's institutional prime brokerage business into traditional finance infrastructure. Ripple Prime's entry into leveraged ETF swap financing positions it as a nonbank competitor to Wall Street firms in a market with over $256 billion in assets. The significance is primarily at the institutional infrastructure layer with no direct retail impact.
Where the sources disagree
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
size of the raise (ripple)
$500 million
CryptoPotato
$275 million
Cointelegraph
CryptoPotato reports $500 million, Cointelegraph reports $275 million (45% apart).
size of the raise (ripple)
$275 million
Cointelegraph
$500 million
Unchained
Cointelegraph reports $275 million, Unchained reports $500 million (45% apart).
size of the raise (investment)
$35 billion
Cointelegraph
$40 billion
Unchained
Cointelegraph reports $35 billion, Unchained reports $40 billion (12% apart).
size of the raise (investment)
$40 billion
Cointelegraph
$35 billion
Bitcoin.com News
Cointelegraph reports $40 billion, Bitcoin.com News reports $35 billion (12% apart).
size of the raise (investment)
$40 billion
Unchained
$35 billion
Bitcoin.com News
Unchained reports $40 billion, Bitcoin.com News reports $35 billion (12% apart).
Key facts
Ripple and Brevan Howard announced an expanded partnership on October 6, 2026.
Reported by CryptoPotato
Ripple Prime will provide multi-asset prime brokerage, clearing, and financing services to Brevan Howard funds.
Reported by CryptoPotato
Financial terms of the Brevan Howard deal, which funds are covered, and when services begin were not disclosed.
Reported by Unchained
What happened
Ripple and Brevan Howard announced an expanded partnership on October 6 under which Ripple Prime will provide multi-asset prime brokerage, clearing, and financing services to Brevan Howard funds. The deal builds on a 2025 investment where Brevan Howard affiliates participated in a $500 million strategic round that valued Ripple at $40 billion. Brevan Howard manages about $35 billion in assets for institutional clients including sovereign wealth funds and pension plans. Ripple entered the prime brokerage business through its $1.25 billion acquisition of Hidden Road in 2025 and raised $275 million via senior notes in August 2026. Separately, the Wall Street Journal reported Ripple Prime is now financing leveraged ETF swap transactions, a business traditionally dominated by banks. Financial terms of the Brevan Howard agreement, which funds are covered, and when services begin were not disclosed.
How the story developed
- Update
Partnership announcement
Ripple and Brevan Howard announce expanded prime brokerage agreement
- Official statement
Joint press release
Both companies issue joint release with quotes from Alan McGroarty and Noel Kimmel
- First report
First report by The Crypto Basic
Ex CFTC Chair Shares Ripple Photo, XRP Army Delighted: “Something Is Cooking”
- Independent corroboration
Independently corroborated by CoinGape
Former CFTC Chair & MoonPay’s Caroline Pham Teases Big Ripple Announcement
- Official statement
Official statement from Bitcoin.com News
$35B Brevan Howard Taps Ripple Prime for Multi-Asset Brokerage
- Update
Wall Street Journal report on leveraged ETF financing
WSJ reports Ripple Prime is financing leveraged ETF swap transactions
- Update
CoinDesk corroborates WSJ report
CoinDesk confirms Ripple Prime supplying financing for leveraged ETFs
- Update
CryptoPotato reports on Wall Street push
Additional detail on Ripple's leveraged ETF financing business and Brevan Howard client addition
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 6 Oct 2026, 10:59 UTC: The Crypto Basic — 1 independent source, 1 reports
- 6 Oct 2026, 12:01 UTC: CoinGape — 2 independent sources, 2 reports
- 6 Oct 2026, 13:17 UTC: CryptoPotato — 3 independent sources, 3 reports
- 6 Oct 2026, 14:26 UTC: U.Today — 4 independent sources, 5 reports
- 6 Oct 2026, 15:24 UTC: Cointelegraph — 5 independent sources, 6 reports
- 6 Oct 2026, 16:44 UTC: Unchained — 6 independent sources, 7 reports
- 6 Oct 2026, 17:52 UTC: Crypto News (CryptoNews.net) — 7 independent sources, 8 reports
- 6 Oct 2026, 18:04 UTC: Crypto.News — 8 independent sources, 9 reports
- 6 Oct 2026, 18:05 UTC: Bitcoin.com News, official — 9 independent sources, 10 reports
- 7 Oct 2026, 06:51 UTC: BTC-ECHO — 10 independent sources, 12 reports
- 8 Oct 2026, 06:17 UTC: CoinDesk — 11 independent sources, 17 reports
Affected entities
Also mentioned: Galaxy Digital, U.S. Securities and Exchange Commission, Binance, Bitcoin, Circle, Base, PayPal
Original sources
Related events
New Taipei court orders Taiwan to block Coinbase and Kalshi over suspected election betting
A New Taipei court ordered Taiwan's communications regulator and internet registry to block Coinbase and Kalshi at the Criminal Investigation Bureau's request over suspected election betting.
Ripple adds Korean brokerage Meritz, Singapore hub XRP Asia and RLUSD custody at Standard Chartered
Ripple signed a Seoul deal with Meritz Securities, launched XRP Asia in Singapore, and Standard Chartered began RLUSD custody in Dubai.
Malaysian court grants Ripple charging order over Seamless Group's Tranglo stake to recover unpaid XRP invoices
A Malaysian court gave Ripple a charging order over Seamless Group's 60% stake in Tranglo, valued at $400 million, to collect roughly $24 million in unpaid XRP invoices from Ripple's ODL service.
South Korea's FSC to review crypto market making after JPYC spiked on Upbit
South Korea's FSC will review allowing crypto market makers after yen stablecoin JPYC traded up to 37.6 won on Upbit, roughly four times its 1:1 yen peg.
XRP Tops Upbit Spot Volume in Korea as Upbit and Bithumb Delist Zilliqa
XRP led Upbit's won-pair spot volume over bitcoin and ether on Oct. 15 and 16, and separately Upbit and Bithumb said they will end support for Zilliqa's ZIL token.
Upbit, Bithumb and Coinone lift SAND transaction alert after August bridge warning
Upbit, Bithumb and Coinone lifted their transaction alert on The Sandbox token SAND, which rose more than 61% in a day to briefly reach $0.07.