Ripple Prime Launches Institutional Perpetual Swaps Linked to Real-World Assets

Ripple Prime, Ripple’s institutional services arm, has launched a real-world asset-linked perpetual swap product for institutional investors.

Bloomberg reported on October 15 that Ripple Prime, the institutional unit of XRP issuer Ripple, launched perpetual swaps tied to more than 100 underlying assets, including stocks, indexes, exchange-traded funds and commodities. The product will operate through Trade.xyz, a Hyperliquid-based exchange for real-world asset-linked perpetual futures.

“The product gives institutions another source of liquidity and is built on more regulated infrastructure,” Ripple Prime Global CEO Michael Higgins said. He added that the company is focused on meeting anti-money laundering standards and building infrastructure familiar to institutional clients.

Ripple Prime has adopted cross margining, allowing funds in a single account to be shared across multiple positions. Higgins said this would help institutional clients use capital more efficiently.

The market for real-world asset-linked perpetual swaps has expanded rapidly this year. Bloomberg reported that open interest in such contracts across major exchanges has surged to about $9 billion from effectively zero a year earlier.