Ripple Prime launches RWA perpetual swaps referencing Hyperliquid markets
Institutional clients get swaps on more than 100 markets, from equities to metals and FX, referencing Trade.xyz perpetuals, with RLUSD as collateral.
RWA & TOKENIZATION
Sofia Marchetti
10/15/20261 min read
Ripple Prime, Ripple's prime brokerage unit, has launched real-world asset perpetual swaps for institutional clients. The swaps reference perpetual futures that Trade.xyz lists on Hyperliquid and cover more than 100 reference markets, including equities, equity indices, ETFs, metals, energy and foreign exchange. Trading and settlement run continuously, including on weekends.
Ripple Prime acts as principal in the trades. Clients can post Ripple's RLUSD stablecoin as collateral, although availability may vary by jurisdiction. They can also offset margin across positions, which may lower collateral requirements, and view margin and risk for their whole portfolio in one place. Market maker Virtu is already trading the products, with an executive saying the firm is ramping up across emerging liquidity pools.
Ripple Prime was formed after Ripple's $1.25 billion acquisition of non-bank prime broker Hidden Road in 2025 and offers digital assets, FX, fixed income, derivatives and swaps through a single institutional account. It added Hyperliquid support in February 2026. For now the RWA swaps are offered under Ripple Prime's CIV BVI license. Ripple plans to expand to more regions but has not given a timeline or named the markets.
Source: The Block.