Ripple Prime Launches Swaps Tied to 100-Plus Markets

Ripple Prime says it has launched swaps for institutional clients that reference more than 100 traditional-asset markets through perpetual futures listed on Hyperliquid. The offering provides exposure around the clock, including when conventional markets are closed, while Ripple Prime acts as the counterparty to the swaps. The referenced markets include equities, exchange-traded funds, stock indexes, metals, energy products and foreign exchange, according to the company’s announcement. Clients do not directly own the underlying assets or trade the Trade.xyz futures through this service. Instead, the swaps track futures listed by Trade.xyz on Hyperliquid, a decentralized derivatives venue. Ripple Prime says eligible clients can manage the swaps alongside other supported positions through cross-margining. This allows collateral to be managed across positions within the brokerage relationship, rather than necessarily held in separate pools. The company also says clients may use its RLUSD stablecoin as collateral where available. The precise benefits depend on the client’s positions and applicable margin arrangements.