Ripple Prime, the institutional brokerage division of Ripple, has introduced support for real-world asset (RWA) perpetual swaps, enabling continuous trading on more than 100 traditional financial markets. The offering includes equities, exchange-traded funds (ETFs), stock indices, precious metals, energy products, and foreign exchange, with trading available around the clock, including weekends.
The perpetual swaps reference contracts listed by Trade.xyz on Hyperliquid, a decentralized derivatives trading platform. Unlike conventional stock and commodity exchanges that operate within fixed trading sessions, these derivatives provide continuous exposure to underlying markets. Ripple Prime acts as principal in the transactions, allowing institutional clients to access the markets through its brokerage infrastructure.
Ripple Prime permits eligible institutions to use RLUSD, Ripple's dollar-pegged stablecoin, as collateral and to cross-margin positions across supported asset classes. This arrangement potentially reduces the collateral required to maintain separate positions. The service currently operates under Ripple Prime's CIV BVI license, with plans to expand to additional jurisdictions.
Trading firm Virtu is among the institutional clients participating in the offering. According to Scotte Moegling, Virtu's head of business development for digital assets, the 24/7 cross-margining capability across asset classes helps the firm expand its presence more efficiently as markets shift toward round-the-clock access.
Michael Higgins, international CEO of Ripple Prime, stated that RWA swaps represent where traditional and digital markets converge, and that institutions increasingly seek exposure to conventional assets without being limited to traditional financial industry operating hours. Ripple noted that trading volumes for perpetual futures tied to real-world assets have grown substantially this year.
