Ripple Prime, the division of Ripple providing prime brokerage services for multiple asset classes, has launched a Delta One service for institutional investors, entering the U.S. equity derivatives market.
The service allows clients to execute total return swaps linked to U.S.-listed equities, indices, and digital assets. Ripple announced this in a statement on Thursday.
Total return swaps provide access to an asset's return without the need to own the underlying asset.
The service is aimed at hedge funds, asset managers, and other financial institutions. Ripple stated that clients can use a single counterparty and cross-margin positions across all supported asset classes around the clock.
"The launch of our Delta One business is a significant milestone for Ripple Prime and a natural evolution of the platform we have built," said Noel Kimmel, President of Ripple Prime.
Ripple Prime's existing prime brokerage, clearing, and financing services cover foreign exchange, derivatives, fixed income, and digital assets. Ripple reported that the business's regulatory net capital exceeds $1 billion.
Ripple Prime was established after Ripple completed the acquisition of Hidden Road for $1.25 billion in October 2025 and rebranded the business.
Earlier in August, Ripple Prime closed a $275 million private placement of senior unsecured notes to support its growth. In May, Ripple Prime secured $200 million in debt financing from funds managed by Neuberger Specialty Finance to expand credit facilities for institutional clients.
Related: South Korea's Jeonbuk Bank Partners with Ripple for Cross-Border Payments
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