Ripple Prime has begun offering institutional clients perpetual swap products across more than 100 reference markets spanning stocks to commodities, with trading available on weekends and RLUSD accepted as collateral.
According to Ripple’s statement, reported by The Block, the new products cover stocks, equity indexes, exchange-traded funds, metals, energy, and foreign exchange markets. Trading and settlement can take place 24/7, including on weekends.
The products are derivative contracts that do not expire on a set date and allow leveraged positions on the price movements of traditional assets. This means institutional clients can trade through contracts tied to these markets rather than buying stocks or commodities directly.
Ripple Prime is the counterparty for Hyperliquid-linked products
The swaps are linked to perpetual futures listed by Trade.xyz on Hyperliquid. Ripple Prime serves as the counterparty to clients’ trades.
The company said market maker Virtu is among the institutional clients that have begun using the products. Scotte Moegling, Virtu’s head of digital asset business development, said managing collateral across asset classes together helps them operate more efficiently in new liquidity venues.
RLUSD can be used as collateral
Depending on availability in their jurisdiction, clients can post Ripple’s dollar stablecoin RLUSD as collateral. Positions across different assets are also assessed within the same portfolio.
Required collateral can be reduced when some positions offset the risk of others. Clients can view their portfolios’ collateral requirements and risks together while trading through a single counterparty.
Ripple Prime was established after Ripple acquired Hidden Road last year for 1,25 billion dollars. The platform added support for Hyperliquid in February; the latest move expands its perpetual swap products linked to traditional markets.
The products are currently offered under a CIV BVI license. Ripple plans to bring the service to more regions but has not yet announced the next markets or an expansion timeline.
Not investment advice.