Ripple Prime, the prime brokerage business of blockchain company Ripple, has launched real-world asset (RWA) perpetual swaps, providing institutional clients with continuous exposure to more than 100 markets linked to traditional financial assets. The offering covers equities, stock indexes, exchange-traded funds (ETFs), metals, energy, and foreign exchange, with trading and settlement available 24 hours a day, seven days a week.
Institutional trading firm Virtu is among the clients using the new service. The launch allows eligible institutions to manage exposure to traditional asset classes outside conventional exchange hours while accessing multiple markets through a single prime brokerage relationship.
The service is currently offered under Ripple Prime’s licensing arrangements in the British Virgin Islands, with the company planning to expand into additional jurisdictions. The launch reflects growing interest in blockchain-based infrastructure that enables financial institutions to trade and manage risk across markets operating on different schedules.
How Ripple Prime Structures RWA Perpetual Swaps
Ripple Prime acts as the principal counterparty for the RWA swaps, which reference perpetual futures contracts listed by Trade.xyz on Hyperliquid, a decentralized derivatives trading platform. This structure gives institutional clients exposure to traditional asset markets through contracts supported by digital asset infrastructure.
Unlike conventional stock and commodity exchanges, which generally operate within specified trading sessions, the referenced markets provide access throughout the week, including weekends. This allows institutions to adjust positions in response to developments that occur when traditional exchanges are closed.
Ripple said the development illustrates how blockchain-based trading infrastructure can extend access to financial markets beyond established trading windows. The approach could help institutions deploy capital and respond to market movements across traditional and digital asset markets without waiting for conventional exchanges to reopen.
The offering also supports cross-margining, allowing clients to offset or manage margin requirements across RWA swap positions and other asset classes supported by Ripple Prime. Clients can use Ripple USD (RLUSD), the company’s stablecoin, as collateral.
By combining cross-margining with RLUSD collateral and centralized risk management, Ripple Prime aims to simplify portfolio management and reduce the operational complexity of maintaining positions across multiple asset classes.
The arrangement also gives clients a single counterparty relationship rather than requiring them to access the underlying decentralized derivatives venue directly.
Michael Higgins, international chief executive of Ripple Prime, said the launch responds to institutional demand for exposure to equities, commodities, and currencies through infrastructure that operates continuously. He also highlighted the company’s experience in trade clearing, digital collateral management, and risk oversight across trading venues as a foundation for supporting more complex institutional strategies.
Virtu Highlights Growing Demand for Continuous Markets
Institutional trading firms are increasingly exploring liquidity sources beyond traditional exchanges as digital infrastructure expands access to financial markets.
Scotte Moegling, head of digital asset business development at Virtu, said the firm was expanding its participation in emerging liquidity pools. He indicated that Ripple Prime’s cross-margining capabilities across asset classes could improve capital efficiency as markets increasingly move toward continuous trading.
Ripple also reported significant growth in trading volumes for perpetual futures contracts linked to real-world assets since the beginning of the year. The company did not provide specific volume figures in the supplied announcement.
The expansion of these products could give institutions additional flexibility to manage exposure when economic announcements, geopolitical developments, or other market-moving events occur outside regular trading hours. However, perpetual swaps also carry risks, including leverage-related losses, liquidity constraints, and differences between contract prices and underlying market values.
Ripple Expands Its Institutional Trading Services
Founded in 2012, Ripple offers payments, custody, prime brokerage, and treasury management services. Its digital asset ecosystem includes RLUSD and XRP, which serve different functions within the company’s broader business.
Through the new offering, Ripple Prime provides institutional clients with access to contracts referencing markets listed on a decentralized venue while maintaining Ripple Prime as their principal counterparty.
The launch strengthens Ripple Prime’s position at the intersection of traditional finance and blockchain-based derivatives, although broader adoption will depend on regulatory access, market liquidity, and institutional risk requirements.
The planned geographic expansion could widen access to the service, subject to applicable licensing and regulatory conditions. For institutions seeking continuous market access, the product offers another route to trading traditional asset exposures through digital financial infrastructure.
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