Ripple Prime Expands Into Stock Trading With New Delta One Derivatives Launch

Ripple, a crypto company, is expanding its institutional trading services to include U.S. equities. They have launched a Delta One service, which merges stock, index, and digital asset derivatives onto a single prime brokerage platform. This new offering allows clients to execute total return swaps tied to U.S. listed equities, indices, and digital assets, providing economic exposure without the need for direct ownership of underlying securities.

The Delta One service is a natural progression for Ripple Prime, which already offers foreign exchange, fixed income, derivatives, and digital asset services. Clients can utilize a single counterparty relationship to cross-margin exposures across various asset classes around the clock, bridging traditional market products with the 24/7 infrastructure typically found in the crypto world.

Noel Kimmel, Ripple Prime's president, views this expansion as a logical next step for the platform they've developed. Clients are increasingly requesting cross-asset access through a single counterparty, and Ripple Prime is ready to accommodate those demands. Unlike traditional Delta One desks, Ripple Prime operates solely in clearing and financing, without combining the service with market-making or proprietary trading.

This structure aims to minimize potential conflicts of interest between the broker and its institutional clients.

The Delta One expansion is backed by over $1 billion in regulatory net capital. Earlier this month, Ripple Prime successfully closed a $275 million private placement of senior unsecured notes, in addition to securing a $200 million debt facility from Neuberger Specialty Finance. Ripple Prime originated from Ripple's $1.25 billion acquisition of Hidden Road in 2025, which established the crypto company with an established institutional prime brokerage operation spanning both traditional and digital markets.

By introducing Delta One, Ripple Prime is pushing its strategy further into Wall Street territory, leveraging its crypto infrastructure to provide a multi-asset brokerage experience. As of the latest data, XRP (CRYPTO: $XRP) is trading at $1.47 U.S. per digital token.