Ripple Prime Agreement

Ripple Prime will provide multi-asset prime brokerage, clearing and financing services to Brevan Howard funds, Ripple said in a Tuesday (Oct. 6) press release.

Wall Street Relationship

This agreement represents a deepening of the relationship between Ripple, a provider of blockchain solutions across traditional and digital finance, and Brevan Howard, a global alternative investment manager specializing in global macro and digital assets.

Growing Demand

It also reflects growing demand from investment managers for prime brokerage solutions across traditional and digital markets that are regulated and enterprise-grade.

Ripple Prime President

Ripple Prime President Noel Kimmel said, 'There are few firms equipped to provide the next generation of prime services that sophisticated investors expect, and Brevan Howard’s trust in Ripple Prime is recognition of our strong competitive position and cross-asset capabilities.'

“There are few firms equipped to provide the next generation of prime services that sophisticated investors expect, and Brevan Howard’s trust in Ripple Prime is recognition of our strong competitive position and cross-asset capabilities”

Wall Street Journal Report

The Wall Street Journal reported Wednesday (Oct. 7) that the announcement is an example of how Ripple has broken into Wall Street.

Ripple Prime Expansion

Ripple Prime is working with several ETF providers and expanding to hedge funds and other investment managers, according to the report.