Ripple Prime, the multi-asset prime brokerage division of Ripple, has launched a Delta One service for institutional investors, marking an expansion into US equity derivatives trading.
The offering enables clients to execute total return swaps linked to US-listed equities, indexes, and digital assets. Total return swaps provide exposure to an asset's returns without requiring ownership of the underlying asset itself.
The service is designed for hedge funds, asset managers, and other financial institutions. According to Ripple, clients can access a single counterparty arrangement with cross-margin exposures across supported asset classes on a 24-hour basis.
"The launch of our Delta One business is an important development for Ripple Prime and a natural extension of the platform we've built," said Noel Kimmel, Ripple Prime President.
Ripple Prime already provides prime brokerage, clearing, and financing services across foreign exchange, derivatives, fixed income, and digital assets. The business maintains more than $1 billion in regulatory net capital.
Ripple Prime was established following Ripple's $1.25 billion acquisition of Hidden Road in October 2025, with the acquired business subsequently rebranded under the Ripple Prime name.
The company closed a $275 million private placement of senior unsecured notes in August and secured a $200 million debt facility from funds managed by Neuberger Specialty Finance in May to support institutional lending expansion.
