Ripple Prime Launches 24-Hour Swap Trading Across More Than 100 Markets
Summary
- Ripple Prime, a Ripple subsidiary, said it has launched a 24-hour swap trading service for institutional clients.
- The company said the service covers more than 100 markets, including equities, commodities and currencies, and allows RLUSD to be used as collateral.
- HSBC called the service "an evolution, not a revolution" and said limited liquidity could constrain large trades.
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Ripple Prime, a Ripple unit under XRP issuer Ripple, now supports round-the-clock trading in equity, commodity and currency swaps.
Odaily reported on October 21 that Ripple Prime recently launched a 24-hour swap trading service for institutional clients. The service covers more than 100 markets, including equities, commodities and currencies. Ripple's dollar stablecoin RLUSD can be used as collateral.
The swaps track perpetual contracts listed on Trade.xyz in the Hyperliquid ecosystem. That allows institutional clients to continue trading assets such as commodities after traditional finance markets close.
HSBC described the service as "an evolution, not a revolution." Dara Maher, HSBC's head of research, said limited liquidity could constrain large trades. Until order books develop sufficient depth, activity may remain concentrated in basis trades by market makers, proprietary trading firms and hedge funds.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul