Ripple Prime Expands Into US Equity Derivatives With New Delta One Offering

Delta One Enters Institutional Playbook

Ripple Prime, the multi-asset prime brokerage arm of Ripple, has broadened its reach into US equity derivatives by introducing its Delta One service. According to Ripple, the new offering grants institutional investors the ability to execute total return swaps tied to US-listed equities, market indexes, and digital assets. The service operates through a single counterparty arrangement, enabling continuous 24/7 market access and cross-margin exposure management across multiple asset classes.

Total return swaps function as derivatives that provide investors exposure to an asset’s performance without requiring ownership of the underlying security. This structure appeals to sophisticated institutional traders seeking capital-efficient market positioning and portfolio flexibility. The Delta One launch specifically targets hedge funds, asset managers, and other major financial institutions seeking streamlined execution across traditional and digital markets.

Building an Institutional-Grade Platform

The expansion represents a logical extension of Ripple Prime’s existing infrastructure. The business already operates clearing services, prime brokerage solutions, financing products, and derivatives capabilities spanning foreign exchange and fixed income markets. Combined with its digital asset services, Ripple Prime now offers institutional clients an integrated multi-asset ecosystem from a single provider.

Noel Kimmel, President of Ripple Prime, characterized the Delta One launch as “an important development for Ripple Prime and a natural extension of the platform we’ve built,” reflecting the company’s strategic vision of unifying traditional and digital finance. The business maintains more than $1 billion in regulatory net capital, establishing operational credibility with institutional counterparties.

Momentum Through Capital and Acquisition

Ripple Prime’s rapid ascent accelerated following Ripple’s $1.25 billion acquisition and rebranding of Hidden Road, which closed in October 2025. Since then, the company has executed aggressive capital expansion. In May, Ripple Prime secured a $200 million debt facility from funds managed by Neuberger Specialty Finance specifically earmarked for expanding institutional lending capacity. Weeks later in August, the company closed a $275 million offering of senior unsecured notes, demonstrating strong investor confidence and fueling further platform growth.

These capital infusions underscore Ripple’s confidence in Ripple Prime’s market opportunity and its ability to compete for institutional market share. The rapid succession of funding rounds suggests the company views institutional adoption of multi-asset derivatives and cross-border settlement as a critical growth vector.

As traditional finance and digital assets increasingly converge, Ripple Prime’s integrated approach to serving institutional clients positions it as a potential key infrastructure player—a development that could accelerate institutional capital flow into XRP and the broader crypto ecosystem.

Source: Ripple, via Cointelegraph. Not financial advice.