Ripple Prime launches RWA perpetual swaps, connecting to Hyperliquid's traditional asset market.

BlockBeats news, October 19 - Ripple's institutional brokerage business Ripple Prime has launched real-world asset (RWA) perpetual swaps, offering institutional clients continuous trading across over 100 reference markets including individual stocks, stock indices, ETFs, metals, energy, and foreign exchange. The product is executed with Ripple Prime as the counterparty, with pricing referenced to perpetual contracts listed by Trade.xyz on the decentralized derivatives platform Hyperliquid, and does not involve ownership of the underlying assets or physical delivery.

Its international CEO Michael Higgins stated that the product bridges traditional markets and digital infrastructure. Clients can cross-margin related positions with other assets on the platform, and eligible clients may also use RLUSD as collateral. Market maker Virtu is one of the early users. The business is currently offered under a British Virgin Islands-related license, with plans to expand to more regions.