TLDR
- Ripple Prime has added RWA perpetual swaps for institutional clients, tied to perpetual futures listed by Trade.xyz on Hyperliquid.
- The swaps cover more than 100 markets, including equities, ETFs, metals, energy and foreign exchange.
- Trading and settlement run 24/7, including weekends.
- Clients can use Ripple’s RLUSD stablecoin as collateral, and market maker Virtu is already trading the products.
- The swaps are offered through Ripple Prime’s CIV BVI license, with more regions planned but no timeline given.
Ripple Prime, the prime brokerage unit of Ripple, has added real-world asset perpetual swaps for institutional clients. The swaps reference perpetual futures listed by Trade.xyz on Hyperliquid.
⚡️NEW: Ripple opens Wall Street access to the $9 BILLION real-world asset perpetuals market through Ripple Prime.
Following its February crypto-perps launch, Ripple now offers 100+ markets across stocks, ETFs and commodities via Hyperliquid's Trade(.)xyz.
Per Bloomberg, hedge… pic.twitter.com/itDr2XzYlJ
— Coin Bureau (@coinbureau) October 15, 2026
Ripple announced the product on Thursday. It covers more than 100 reference markets across equities, equity indices, exchange-traded funds, metals, energy and foreign exchange.
Trading and settlement run around the clock, including weekends. Ripple said clients can manage exposure to traditional assets outside normal exchange hours.
How the Swaps Work
RWA perpetual swaps are crypto derivative contracts. They let users trade traditional financial assets with leverage and no expiration date.
Ripple Prime acts as the principal in the trades. The value of each swap is linked to the Trade.xyz perpetual futures on Hyperliquid.
Clients can use Ripple’s RLUSD stablecoin as collateral. Ripple said availability may differ by jurisdiction.
Ripple Prime also offers cross-margining across asset classes. Clients may need less collateral if some positions reduce the risk of others.
Clients can manage trading through one counterparty. They can also see margin requirements and risks across the full portfolio in one place.
Market maker Virtu is among the institutional clients already trading the swaps. Scotte Moegling, head of business development for digital assets at Virtu, said the cross-margining helps the firm expand more efficiently.
Michael Higgins, Ripple Prime’s international CEO, said RWA swaps are where traditional finance and decentralized finance converge. He said institutions want 24/7 access to these assets.
Market and Company Background
Trade.xyz is the largest HIP-3 deployer on Hyperliquid, according to Bloomberg. Open interest in real-world asset perpetual contracts has climbed to $9 billion over the past year.
Ripple Prime was formed after Ripple completed its $1.25 billion acquisition of prime broker Hidden Road last year. The platform supports digital assets, foreign exchange, fixed income, derivatives and swaps through one account.
Ripple Prime added support for Hyperliquid in February. That gave institutional clients access to the decentralized derivatives venue while managing margin with other positions.
The firm also offers swap financing for leveraged ETFs. It recently launched a Delta One business for total return swaps on U.S. stocks, indices and crypto.
The new swaps are offered through Ripple Prime’s CIV BVI license. Ripple said it plans to offer them in more regions but did not give a timeline or name the next markets.
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