Ripple is expanding its partnership with global asset management firm Brevan Howard. According to overseas crypto media outlet Coinape, Ripple's prime brokerage platform 'Ripple Prime' will provide Brevan Howard funds with prime brokerage, clearing, and financing services spanning multiple assets.

■ Ripple Prime Handles Everything from XRP to RLUSD

According to Coinape, citing Ripple's announcement, the expanded partnership allows Brevan Howard to use Ripple Prime's integrated platform, which handles virtual assets including XRP and Ripple's stablecoin RLUSD.

Ripple stated, "This partnership demonstrates the growing demand from major global investment managers for prime brokerage services that span both traditional financial markets and digital markets while ensuring regulatory compliance and providing an institutional-grade environment."

Alan McGroarty, Group Chief Operating Officer (COO) of Brevan Howard, explained that as the connection between traditional and digital markets deepens, the need for institutional-level digital asset infrastructure that can provide investors with a seamless investment environment continues to grow. He said, "Ripple has built a differentiated platform, and we expect it to enhance our investment teams' operational convenience and capital efficiency."

■ Ripple Prime Expanding into Stock Trading

Coinape reported that the expanded partnership aligns with Ripple Prime's service expansion. According to Coinape's earlier reports, Ripple Prime launched stock trading services in August (local time) through its Delta One business. Ripple Prime's trading desk offers total return swap (TRS) trading on U.S. stocks. According to Coinape, the service targets hedge funds, market makers, and exchange-traded fund (ETF) issuers.

■ A Relationship That Led to Last Year's Investment

The relationship between Ripple and Brevan Howard dates back to last year. According to Coinape, a Brevan Howard affiliate invested in Ripple by participating in a $500 million funding round that valued the company at $40 billion. The expanded partnership further strengthens the relationship between the two companies, which began last year. Coinape also reported that Ripple subsequently conducted a $750 million share buyback, raising its valuation to $50 billion.

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