Ripple Prime expands into US equity derivatives with Delta One
Ripple Prime expands into US equity derivatives through a new Delta One business, letting institutional clients trade total return swaps tied to US-listed equities, indexes and digital assets. The multi-asset prime brokerage now offers single-counterparty access and cross-margin exposures around the clock for hedge funds and asset managers.
Key Takeaways
- Ripple Prime launched a Delta One service that extends its platform into US equity derivatives for institutional investors.
- Clients can execute total return swaps linked to US-listed equities, indexes and digital assets without owning the underlying.
- The offering supports a single counterparty and cross-margin exposures across asset classes around the clock.
- Ripple Prime reports more than $1 billion in regulatory net capital and grew from Ripple’s $1.25 billion Hidden Road deal.
What did Ripple Prime launch and why does it matter?
Ripple’s multi-asset prime brokerage, Ripple Prime, has launched a Delta One business aimed at institutional investors, according to a Thursday announcement reported by Cointelegraph.
The move matters because it adds US equity derivatives exposure to a platform that already covers foreign exchange, derivatives, fixed income and digital assets. For readers following institutional crypto and fintech moves, more coverage sits in our Fintech & Crypto Alerts hub.
Total return swaps give clients exposure to an asset’s returns without requiring ownership of the underlying asset. That structure is central to the new Delta One lineup.
Who can use the Delta One service and how does it work?
The service targets hedge funds, asset managers and other financial institutions. Ripple said clients can use a single counterparty and cross-margin exposures across the supported asset classes around the clock.
In practical terms, institutions can pursue linked exposure to US-listed equities, indexes and digital assets through the same prime brokerage relationship. That packaging is designed to simplify collateral and risk management across traditional and crypto-linked markets.
“The launch of our Delta One business is an important development for Ripple Prime and a natural extension of the platform we’ve built,” Ripple Prime President Noel Kimmel said.
How did Ripple Prime get here and what backs its balance sheet?
Ripple Prime was created after Ripple completed its $1.25 billion acquisition of Hidden Road in October 2025 and rebranded the business. Ripple said the prime brokerage now holds more than $1 billion in regulatory net capital.
Earlier in August, Ripple Prime closed a $275 million private placement of senior unsecured notes to support growth. In May, it secured a $200 million debt facility from funds managed by Neuberger Specialty Finance to expand lending capacity for institutional clients.
Together, the capital raises and the Delta One launch point to a broader push: deepen institutional prime brokerage into equity-linked derivatives while keeping digital assets in the same operating stack.