Ripple Prime expands into US equity derivatives with Delta One business
Institutional clients can access total return swaps across linked to US-listed equities, indexes and digital assets and cross-margin exposures.
Ripple Prime, the multi-asset prime brokerage business of the cryptocurrency company Ripple, has introduced a Delta One service for institutional investors, expanding its presence into US equity derivatives. This offering allows clients to access total return swaps linked to US-listed equities, indexes, and digital assets, as well as cross-margin exposures.
Total return swaps grant exposure to an asset's returns without necessitating direct ownership of the underlying asset. Ripple stated that clients can utilize a single counterparty and leverage cross-margin exposures across various asset classes around the clock. Noel Kimmel, Ripple Prime's President, emphasized that the launch of their Delta One business marks an important development for the platform and represents a natural progression.
Ripple Prime already provides prime brokerage, clearing, and financing services for foreign exchange, derivatives, fixed income, and digital assets, boasting more than $1 billion in regulatory net capital. The business was established following Ripple's acquisition of Hidden Road in October 2025, which was followed by the rebranding of the venture as Ripple Prime.
Earlier this year, Ripple Prime closed a $275 million private placement of senior unsecured notes to fuel its growth, and secured a $200 million debt facility from Neuberger Specialty Finance to bolster its lending capacity for institutional clients.
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