Key Takeaways
- • Ripple Prime has launched support for real-world asset (RWA) perpetual swaps, giving institutional clients continuous exposure to more than 100 reference markets spanning equities, equity indices, ETFs, metals, energy, and FX, all traded and settled 24/7.
- • Institutional client Virtu is already trading RWA swaps, with Virtu's digital assets business development head Scotte Moegling citing the 24/7 cross-margining as a way to expand presence more efficiently.
- • RWA swaps are traded through Ripple Prime as principal and reference perpetual futures listed by Trade.xyz on Hyperliquid, a decentralized derivatives venue.
- • Clients can cross-margin RWA swap exposure against other asset classes Ripple Prime supports and use Ripple USD (RLUSD) as collateral, consolidating counterparty relationships, risk management and margin.
- • The offering is currently available out of Ripple Prime's CIV BVI license, with plans to expand to additional regions in the near future.
Summary
Ripple announced that Ripple Prime has launched support for real-world asset (RWA) perpetual swaps, a product that allows institutional clients to trade continuous exposure to traditional markets. According to the company's press release distributed via Business Wire, institutional clients including Virtu are now trading RWA swaps referencing more than 100 markets across equities, equity indices, ETFs, metals, energy and foreign exchange, all traded and settled 24/7.
The swaps are traded through Ripple Prime as principal and reference perpetual futures contracts listed by Trade.xyz on Hyperliquid, a high-performance decentralized derivatives venue. Because the reference markets trade continuously, including weekends, clients can manage exposures to traditional asset classes outside typical exchange operating hours. Ripple states that the product responds to growing demand for round-the-clock access, noting exponential growth in trading volumes of perpetual futures tied to real-world assets year-to-date.
Ripple emphasized capital efficiency in the offering. Clients can cross-margin RWA swap exposures against the other asset classes Ripple Prime supports and use Ripple USD (RLUSD) as collateral, which the company says results in a single counterparty relationship, centralized risk management and consolidated margin across portfolios. RLUSD availability may differ by jurisdiction, according to the release.
Michael Higgins, International CEO of Ripple Prime, said institutions want exposure to equities, commodities and currencies with the round-the-clock access and efficiencies of digital infrastructure. Scotte Moegling, head of business development for digital assets at Virtu, said Ripple Prime's 24/7 cross-margining helps Virtu expand its presence more efficiently as markets move toward round-the-clock access.
The offering is currently available out of Ripple Prime's CIV BVI license, with the company intending to extend it to additional regions in the near future. Ripple describes itself as founded in 2012 and holding over 85 licenses, offering payments, custody, prime brokerage and treasury management solutions. The release is promotional in nature and the company has not disclosed trading volumes or notional figures for the RWA swap product.
The swaps are traded through Ripple Prime as principal and reference perpetual futures contracts listed by Trade.xyz on Hyperliquid, a high-performance decentralized derivatives venue. Because the reference markets trade continuously, including weekends, clients can manage exposures to traditional asset classes outside typical exchange operating hours. Ripple states that the product responds to growing demand for round-the-clock access, noting exponential growth in trading volumes of perpetual futures tied to real-world assets year-to-date.
Ripple emphasized capital efficiency in the offering. Clients can cross-margin RWA swap exposures against the other asset classes Ripple Prime supports and use Ripple USD (RLUSD) as collateral, which the company says results in a single counterparty relationship, centralized risk management and consolidated margin across portfolios. RLUSD availability may differ by jurisdiction, according to the release.
Michael Higgins, International CEO of Ripple Prime, said institutions want exposure to equities, commodities and currencies with the round-the-clock access and efficiencies of digital infrastructure. Scotte Moegling, head of business development for digital assets at Virtu, said Ripple Prime's 24/7 cross-margining helps Virtu expand its presence more efficiently as markets move toward round-the-clock access.
The offering is currently available out of Ripple Prime's CIV BVI license, with the company intending to extend it to additional regions in the near future. Ripple describes itself as founded in 2012 and holding over 85 licenses, offering payments, custody, prime brokerage and treasury management solutions. The release is promotional in nature and the company has not disclosed trading volumes or notional figures for the RWA swap product.
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