Ripple Prime expands into US equity derivatives with Delta One business
Summary
Ripple Prime launched a Delta One service for institutional clients, expanding into U.S. equity derivatives. The product lets hedge funds, asset managers and other institutions trade total return swaps tied to U.S.-listed equities, indexes and digital assets without owning the underlying assets. Ripple says clients can use one counterparty and cross-margin exposures across asset classes around the clock. The service builds on Ripple Prime’s existing prime brokerage, clearing and financing offerings in FX, derivatives, fixed income and digital assets. Ripple Prime says it has more than $1 billion in regulatory net capital. The business was formed after Ripple’s $1.25 billion acquisition of Hidden Road and subsequent rebrand.
