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Ripple Prime has launched support for real-world asset (RWA) perpetual swaps, with institutional clients including Virtu already trading the products. Ripple, a provider of blockchain solutions across traditional and digital finance, announced the launch on 15 October 2026. Ripple Prime is its prime brokerage business, built after Ripple acquired Hidden Road for $1.25 billion.
The swaps give exposure to more than 100 reference markets spanning equities, equity indices, ETFs, metals, energy and FX, all traded and settled 24/7. Traded through Ripple Prime as principal, they reference perpetual futures contracts listed by Trade.xyz on Hyperliquid, a high-performance decentralised derivatives venue.
Perpetual futures have no expiry date, and because the reference markets trade continuously, including weekends, clients can manage exposures to traditional asset classes outside typical exchange operating hours.
Michael Higgins, International CEO, Ripple Prime
Michael Higgins, International CEO, Ripple Prime commented:
“RWA swaps are where traditional and digital markets meet. Institutions want exposure to equities, commodities, and currencies with the round-the-clock access and efficiencies of digital infrastructure. Ripple Prime was built to operate in both worlds, with deep experience clearing trades and managing digital collateral and risk across venues, 24/7. With RWA swaps, we are enabling clients to execute increasingly sophisticated trading strategies and actively manage their portfolios in response to today’s dynamic global markets.”
Clients can cross-margin RWA swap exposures against the other asset classes Ripple Prime supports. They can also use Ripple USD (RLUSD) as collateral for RWA swap transactions. Ripple said this results in a single counterparty relationship, centralised risk management and consolidated margin across clients’ portfolios.
Scotte Moegling, Head of Business Development for Digital Assets
Scotte Moegling, Head of Business Development for Digital Assets, Virtu commented:
“Virtu is ramping up across emerging liquidity pools, and Ripple Prime’s 24/7 cross-margining across asset classes helps us expand our presence more efficiently as markets move toward round-the-clock access,”
Ripple said trading volumes of perpetual futures contracts tied to real world assets have grown exponentially year-to-date. The offering is currently available out of Ripple Prime’s CIV BVI licence, with the intention to offer it from additional regions in the near future.
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