Ripple Prime launches Delta One service for US equity derivatives

Ripple Prime has launched a Delta One business that lets institutional clients trade total return swaps tied to U.S.-listed equities, indexes and digital assets through its multi-asset prime brokerage platform. Summary Ripple Prime has launched Delta One, allowing institutional clients to trade total return swaps linked to US equities, indexes and digital assets. Clients can use a single counterparty and cross margin supported exposures across Ripple Prime’s multi asset brokerage platform. The service targets hedge funds, asset managers and other financial institutions seeking exposure without directly owning the underlying assets. Ripple Prime was formed after Ripple completed its $1.25 billion acquisition of Hidden Road in October 2025. The brokerage secured a $200 million debt facility in May and closed a $275 million private placement of senior unsecured notes in August. Ripple said Thursday that the service is live for hedge funds, asset managers and other financial institutions, extending Ripple Prime further into U.S. equity derivatives while retaining digital assets within the same brokerage framework. Clients can use a single counterparty for the transactions and cross-mar...