Ripple Prime Launches Delta One Service for US Equity Derivatives
The service lets hedge funds and asset managers gain cross-margin exposure to equities, indexes and digital assets without owning the underlying assets.
- On Thursday, August 27, 2026, Ripple Prime launched its Delta One service, allowing institutional clients to execute total return swaps linked to US-listed equities, indexes, and digital assets.
- The brokerage developed this capability following its $1.25 billion acquisition of Hidden Road in October 2025, which established the multi-asset infrastructure for clearing, financing, and prime brokerage services.
- According to Ripple Prime President Noel Kimmel, the launch is a "natural extension" of the platform, which serves more than 300 institutional customers and operates with more than $1 billion in regulatory net capital.
- To support this expansion, the firm closed a $275 million private placement of senior unsecured notes on August 18, following a $200 million debt facility secured from Neuberger Specialty Finance in May.
- The firm continues integrating digital asset infrastructure, including prior integrations with EDX Markets and Hyperliquid, while utilizing its RLUSD stablecoin to facilitate settlement and collateral roles within prime brokerage products.
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13 Articles
Ripple Prime Expands Into Stock Trading With Delta One Business
Ripple’s prime-brokerage unit launched a so-called delta one business in its first push into the equities market, expanding its offerings for institutional clients trading across traditional and digital markets.
Ripple Prime launches Delta One service for US equity derivatives
Ripple Prime has launched a Delta One business that lets institutional clients trade total return swaps tied to U.S.-listed equities, indexes and digital assets through its multi-asset prime brokerage platform. Ripple said Thursday that the service is live for hedge…
Ripple Takes On Wall Street With US Stock and Crypto Swaps
The service moves Ripple further into equity derivatives. Clients receive the economic performance of the referenced assets through privately negotiated contracts, but the transactions do not transfer ownership of the underlying shares. Key Takeaways Funds gain synthetic exposure through total return swaps. The service covers equities, indices and digital assets. Clients can cross-margin through one counterparty. Ripple Prime reports $1 billion…
Ripple Stock Expansion Brings Crypto and Equities Closer Together
Ripple is expanding deeper into traditional finance with the launch of Delta One through its institutional brokerage arm, Ripple Prime. The new business will offer institutional clients exposure to U.S. equities, indexes, and digital assets through total return swaps, strengthening Ripple’s broader...
Ripple Prime Launches Delta One Business, Expanding ...
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