Ripple (@Ripple) Prime, the company's institutional prime brokerage, has added real world asset (RWA) perpetual swaps for its clients. The contracts reference markets listed by Trade(.)xyz (@
Ripple (@Ripple) Prime, the company's institutional prime brokerage, has added real world asset (RWA) perpetual swaps for its clients. The contracts reference markets listed by Trade(.)xyz (@tradexyz) on Hyperliquid (@HyperliquidX) $HYPE, and they cover stocks, ETFs, metals, energy and forex.
Clients can also use Ripple's $RLUSD stablecoin as collateral, though availability depends on jurisdiction.
The Block reported that the swaps span more than 100 reference markets across equities, equity indices, ETFs, metals, energy and foreign exchange. Ripple said trading and settlement are available around the clock, including weekends. Market maker Virtu is among the institutional clients already trading the products.
RWA perpetual swaps are crypto derivatives that let users trade traditional financial assets with leverage and no expiry date, according to The Block. Ripple Prime acts as the principal in the trades, and the swaps are linked to the Trade(.)xyz perpetual futures listed on Hyperliquid. Clients therefore face Ripple Prime as their counterparty rather than dealing with Hyperliquid directly, as Altcoin Buzz noted.
Ripple Prime also lets clients cross-margin RWA swaps against other supported asset classes. The Block said this means clients may need less collateral if some positions offset the risk of others, and that they can view margin requirements and risk across their whole portfolio in one place.
Availability is limited for now. Altcoin Buzz reported that the offering runs under Ripple Prime's CIV BVI license, with plans to add regions. Ripple Prime describes itself as an institutional prime broker, not a trading venue, and does not serve retail clients.
The launch comes as demand for tokenized and traditional-asset perpetuals grows. Coingape, citing a Bloomberg report, said 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 non-bank prime broker Hidden Road, according to The Block. CoinDesk reported in October 2025 that the unit served more than 300 institutions and had cleared over $3 trillion, and that Ripple aimed to expand the role of RLUSD as collateral through it.
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