Ripple Secures Brevan Howard and Three Institutional Partnerships
Ripple expanded its institutional footprint by securing Brevan Howard as a prime brokerage client and signing agreements with Paxos, Meritz Securities, and Canton Network.
The financial technology company Ripple expanded its institutional services through a series of high-profile partnerships in early October 2026. The company announced on October 6 that its brokerage arm, Ripple Prime, has become the prime broker for Brevan Howard, a hedge fund managing approximately $35 billion. Ripple Prime, created through the $1.25 billion acquisition of Hidden Road, will manage the fund's trading, clearing, and financing across traditional stock, bond, and cryptocurrency markets.
Following the Brevan Howard deal, Ripple announced three additional partnerships to grow its custody and tokenization business. Meritz Securities, a South Korean brokerage, will explore tokenization and Ripple Custody services, while the Canton Network integrated Ripple Custody to support its blockchain assets. Additionally, Paxos added XRP to its institutional brokerage and custody offerings, enabling partners to buy, hold, and transfer the token.
While these deals increase corporate revenue through clearing fees and margin loan interest, they have not translated into gains for XRP holders. The token's price fell approximately 9% over the week, trading at $1.36 as of October 8. Investors appear to be distinguishing between Ripple's corporate growth and the actual demand for the XRP token, as several of the new agreements focus on software infrastructure rather than the cryptocurrency itself.
