Institutional clients can now trade exposure to traditional financial assets through weekends with Ripple Prime’s RWA swaps. The offering spans more than 100 reference markets, combining round-the-clock trading and settlement with cross-asset margin management.
Key takeaways
- Hyperliquid perpetual futures from Trade.xyz serve as the benchmark for these swaps.
- Depending on jurisdictional rules, institutions have the option to use RLUSD as collateral.
- Virtu, a market maker, has already adopted these products.
According to The Block, Ripple detailed this offering on October 15, 2026. The company’s prime brokerage division, which caters to institutional clients, introduced new contracts spanning equities, equity indices, exchange-traded funds, metals, energy and foreign exchange.
Ripple Prime’s RWA swaps cover more than 100 markets
These crypto derivative contracts offer leveraged access to traditional financial assets and carry no expiration date. They support 24/7 trading and settlement, including weekends, spanning more than 100 reference markets.
Market maker Virtu is among the institutions already trading the swaps, Ripple said. Scotte Moegling, Virtu’s head of business development for digital assets, linked its use of the service to expansion across emerging liquidity pools.
“Virtu is ramping up across emerging liquidity pools, and Ripple Prime’s 24/7 cross-margining across asset classes helps us expand our presence more efficiently as markets move toward round-the-clock access,” Moegling said.
Trade.xyz and Hyperliquid provide the reference futures
The swaps derive their value from Trade.xyz perpetual futures listed on Hyperliquid, while Ripple Prime acts as principal in the transactions. Institutional clients trade through the brokerage rather than managing the swaps through multiple counterparties.
The platform added Hyperliquid support in February, giving institutional clients access to the decentralized derivatives venue while letting them manage margin alongside other positions.
RLUSD collateral and cross-asset margin management
Clients can use Ripple’s RLUSD stablecoin as collateral for Ripple Prime’s RWA swaps, although availability differs by jurisdiction. The service also supports cross-margining across asset classes, potentially lowering collateral needs when positions offset one another’s risk.
Ripple said clients can use a single counterparty and view portfolio-wide risks and margin requirements together. That arrangement brings the new contracts into the platform’s broader institutional account structure, which supports digital assets, foreign exchange, fixed income, derivatives and swaps.
The brokerage took shape after Ripple completed its $1.25 billion acquisition of Hidden Road, a non-bank prime broker, in 2025.
CIV BVI license governs current availability
Access to the RWA swaps is currently limited to Ripple Prime’s CIV BVI license, though Ripple has indicated plans to expand availability to other regions.
The company did not specify an expansion timetable or identify the next markets.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.