Ripple Prime, the multi-asset prime brokerage platform built by blockchain company Ripple, has launched a new Delta One business to give institutional clients access to equity derivatives trading.
The new offering enables hedge funds, asset managers and other financial institutions to trade Total Return Swaps (TRS) across US-listed equities, indices and digital assets.
Ripple Prime said the service is designed to give institutional investors greater flexibility over how they access equity exposure, while aligning with their investment horizons, risk mandates and reporting requirements.
The launch expands Ripple Prime beyond its existing prime brokerage, clearing and financing services across FX, derivatives, fixed income and digital assets, bringing equities into the platform’s cross-asset offering.
Clients can access the different asset classes through a single counterparty and cross-margin positions across their portfolios. Ripple Prime said the model is designed to simplify market access and support institutional trading around the clock.
The firm is also positioning its Delta One operation as an alternative to traditional providers, highlighting what it describes as a conflict-free structure.
Many established Delta One businesses operate within firms that also conduct market-making or proprietary trading activities. Ripple Prime, by contrast, said its business is focused solely on clearing and financing, which it argues reduces potential conflicts between the interests of the provider and its clients.
The expansion is backed by more than $1bn in regulatory net capital held by Ripple Prime.
The firm has also expanded its financing capacity, recently closing an upsized $275m private placement of senior unsecured notes. This follows a $200m debt facility secured earlier in the year from funds managed by Neuberger Specialty Finance.
The additional capital provides further support for Ripple Prime’s expansion across institutional markets and its broader multi-asset strategy.
Ripple Prime forms part of Ripple, the blockchain enterprise technology company founded in 2012. Ripple provides infrastructure across payments, custody, liquidity and treasury management for traditional and digital financial markets.
Its ecosystem includes the RLUSD stablecoin and XRP, which the company uses across its broader financial infrastructure offering.
Ripple Prime president Noel Kimmel said, “The launch of our Delta One business is an important development for Ripple Prime and a natural extension of the platform we’ve built.”
“Clients can now access equities, FX, derivatives, fixed income, and digital asset prime brokerage, clearing, and financing all through a single counterparty that is built for the future of finance: cross-asset, structurally aligned, 24/7.”
Kimmel added that the expansion reflects growing demand from institutional market participants for a broader range of assets and services through a single platform.
The Delta One launch marks another step in Ripple Prime’s push to build a cross-asset institutional trading and financing platform spanning traditional and digital markets.
As institutional demand continues to converge across equities, derivatives and digital assets, Ripple Prime’s expansion highlights the growing competition between traditional prime brokers and technology-led platforms seeking to provide a broader range of financial market infrastructure. Subscribe to the FinTech Global newsletter today.
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