Ripple Prime, the institutional prime brokerage arm of Ripple, has launched 24/7 trading support for real-world asset (RWA) perpetual swaps, offering institutional clients round-the-clock exposure to over 100 reference markets.
Institutional RWA Swaps on Hyperliquid
The new offering enables institutional investors to trade perpetual swaps referencing traditional equities, ETFs, metals, energy, and fiat currencies continuously, including on weekends. Ripple Prime acts as principal for the swaps, which reference perpetual futures contracts listed by trade.xyz on the decentralized platform Hyperliquid.
Clients can cross-margin their RWA swap positions against other asset classes supported by Ripple Prime. Additionally, Ripple's stablecoin, RLUSD, can be used as collateral, allowing institutional traders to consolidate margin requirements and portfolio risk management under a single counterparty. The product launch arrives even as underlying crypto markets experience structural volatility, such as when XRP price tests critical support zones.
Expanding Wall Street Infrastructure
"Institutions want exposure to equities, commodities, and currencies with the round-the-clock access and efficiencies of digital infrastructure," stated Michael Higgins, International CEO of Ripple Prime. He noted that the platform enables clients to execute complex trading strategies and actively manage risk across dynamic global markets.
This launch marks another step in Ripple's institutional expansion:
- Brokerage Acquisition: Ripple Prime originated from Ripple's $1.25 billion acquisition of prime broker Hidden Road last year.
- Institutional Partnerships: Earlier this month, Ripple Prime expanded its partnership with Brevan Howard, providing the hedge fund giant with multi-asset prime brokerage and clearing services.
- Banking Overlap: The firm has also expanded into leveraged ETF swap financing, entering a market sector historically dominated by major commercial banks as digital assets compete directly with traditional architecture alongside expanding stablecoin market capitalization.
Why It Matters
Ripple Prime's integration of 24/7 RWA swaps bridges traditional Wall Street assets with decentralized execution infrastructure. By leveraging trade.xyz contracts on Hyperliquid while enabling RLUSD collateralization, Ripple is establishing an institutional venue where legacy asset risk can be hedged outside standard stock exchange operating hours. If institutional adoption accelerates, this continuous trading framework could force traditional prime brokerages to adopt digital collateral structures and weekend clearing mechanisms.
