Ripple Prime launches 24/7 swaps across 100 RWA markets

Ripple Prime launched real-world asset perpetual swaps on Oct. 15, giving institutional clients access to more than 100 markets that trade and settle around the clock, according to Ripple’s announcement. The swaps reference perpetual futures listed by Trade.xyz on Hyperliquid, and Ripple Prime acts as principal in the trades.

Ripple said Virtu is among the clients already trading the product. The markets cover equities, equity indices, exchange-traded funds, metals, energy and foreign exchange, including weekends when many traditional exchanges are closed.

How do the swaps connect to Hyperliquid markets?

Clients trade through Ripple Prime, while the swaps’ value is linked to Trade.xyz perpetual futures on Hyperliquid, The Block reported. That structure gives institutions exposure to traditional asset markets through contracts tied to continuously traded futures; clients do not trade those reference contracts directly through Ripple Prime as principal.

What collateral and margin can clients use?

Ripple said clients can use its RLUSD stablecoin as collateral and cross-margin the swaps against other asset classes supported by Ripple Prime. The firm said this allows clients to manage margin and risk across portfolios through one counterparty; RLUSD availability may vary by jurisdiction.

More than 100 reference markets are included at launch, but Ripple did not disclose individual contract names, trading volumes or client totals. The offering is currently available under Ripple Prime’s CIV BVI license. Ripple said it intends to expand to additional regions, but has not named them or given a timetable.

Source material

• Ripple’s announcement — ripple.com
• The Block reported — theblock.co