Ripple Prime Launches Delta One Service to Enter US Equity Derivatives Market
Ripple Prime, the company's institutional prime brokerage division, has unveiled a Delta One business enabling hedge funds and asset managers to access total return swaps linked to US equities and digital assets.
Expanding Into Traditional Equity Derivatives
Ripple Prime has introduced a Delta One offering designed to bring institutional investors into the US equity derivatives space. The new service permits hedge funds, asset managers, and other financial institutions to execute structured positions linked to US-listed equities, market indexes, and digital assets. According to Ripple’s Thursday announcement, the platform provides round-the-clock access and allows clients to consolidate exposure across multiple asset classes through a single counterparty arrangement.
How Total Return Swaps Enable Market Access
The Delta One service centers on total return swaps, financial instruments that grant market exposure without requiring direct ownership of the underlying assets. This structure appeals to institutional players seeking operational efficiency, as it allows cross-margin functionality—meaning participants can manage collateral and exposure across traditional equities, derivatives, fixed income, and digital assets in a unified framework. Ripple Prime President Noel Kimmel described the launch as an important milestone and a natural progression for the platform, which already offers prime brokerage, clearing, financing, and digital asset services spanning foreign exchange and fixed income markets.
Strengthening Institutional Infrastructure
The expansion reflects Ripple Prime’s growing scale within institutional finance. The business now maintains over $1 billion in regulatory net capital, underscoring its operational capacity. Recent capital activities demonstrate aggressive growth plans: in August, Ripple Prime closed a $275 million offering of senior unsecured notes, while in May it secured a $200 million debt facility from funds managed by Neuberger Specialty Finance to expand lending capabilities for institutional clients. These funding mechanisms support the division’s push into higher-value institutional products.
Ripple Prime itself emerged from Ripple’s $1.25 billion acquisition of Hidden Road, which closed in October 2025. Following the deal, Ripple rebranded the acquired business as Ripple Prime, positioning it as a cornerstone platform connecting institutional participants to both traditional finance and digital assets. The Delta One launch signals Ripple’s intent to become a full-service prime broker bridging equities, derivatives, and digital assets under one operational roof.
Source: Ripple, via Cointelegraph. Not financial advice.