Ripple Prime adds RWA perpetual swaps for institutional crypto trading
Ripple Prime is expanding its institutional trading suite with RWA perpetual swaps tied to products listed on Hyperliquid. The launch gives clients access to more than 100 reference markets across asset classes, while allowing eligible users to post RLUSD as collateral.
Highlights
- Ripple Prime launched RWA perpetual swaps for institutions, referencing Trade.xyz futures on Hyperliquid and covering over 100 markets with 24/7 settlement.
- Clients can manage trading and margin for multiple assets with Ripple as a single counterparty and use RLUSD stablecoin as collateral where jurisdictionally approved.
- Virtu already utilizes the product, supporting Ripple Prime’s strategy to expand liquidity and cross-asset offerings after its acquisition of Hidden Road last year.
Institutional product expansion and market access
As reported by The Block, Ripple Prime has added RWA perpetual swaps for institutional clients, referencing perpetual futures listed by Trade.xyz on Hyperliquid. The product covers more than 100 markets, including equities, indices, ETFs, metals, energy and foreign exchange, with trading and settlement available around the clock.Ripple says the structure allows clients to manage trading and margin across multiple assets through a single counterparty. Eligible clients can also use Ripple's RLUSD stablecoin as collateral, subject to jurisdictional availability.
Liquidity support and broader platform strategy
Market maker Virtu is already using the product, giving Ripple Prime an early institutional participant as it seeks to deepen liquidity access across the covered markets. The offering is aimed at investors looking for continuous exposure to a broad set of reference assets through a crypto-native trading framework.Ripple Prime was established after Ripple's acquisition of Hidden Road last year, a deal that broadened the company's reach across digital assets, foreign exchange, fixed income and other markets. The addition of RWA-linked swaps further extends that cross-asset strategy in the institutional segment.
In our earlier report on EQT’s agreement to acquire U.S. real estate firm Stockbridge, we outlined how large private capital managers are using M&A to broaden their platforms amid tougher fundraising and slower exits. We noted that the deal would add significant assets under management and build on EQT’s prior Coller Capital purchase, reflecting a wider consolidation trend as firms seek diversified, multi-strategy scale.
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