Bullish, an institutionally focused global digital asset exchange and information services platform, has broadened its existing partnership with blockchain enterprise solutions firm Ripple.
The expanded integration gives Ripple Prime’s institutional clients direct entry into Bullish’s regulated BTC options markets, adding to the spot, perpetuals, and dated futures connectivity already in place.
Ripple’s own stablecoin, RLUSD, can be used as the basis for options trading on Bullish.
Ripple Prime clients are also able to deploy capital immediately through existing sub-account structures, without needing to complete any additional KYC checks. Looking ahead, the two firms plan to introduce cross-venue margin support, which would allow institutions to optimise collateral across exchanges and OTC desks.
Ripple Prime is described as one of the largest non-bank prime brokers in the world, offering multi-asset brokerage, clearing, and financing services, and processed more than $3tn in clearing volumes during 2025.
Bullish exchange president Chris Tyrer said, “Institutional demand for crypto derivatives is growing, and having access to options is central for sophisticated investors looking to manage risk more precisely across their digital asset portfolios.
“I’m delighted to expand our integration with Ripple Prime, giving their established network of institutional investors a trusted, regulated pathway to trade options alongside our existing offerings.”
Ripple Prime international CEO Mike Higgins said, “Bullish and Ripple Prime have been longtime partners, offering Ripple’s institutional clients access to robust derivatives markets as traditional and digital asset markets become increasingly interconnected.
“The ability for institutional clients to cross-margin across multiple types of venues for their options trading only strengthens the depth of participation, optimizing capital efficiency while facing a regulated and well-capitalized counterparty in Ripple Prime.”
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