Ripple Prime launches Delta One service for US equity derivatives

Ripple Prime announced that its new Delta One service is live, enabling institutional investors to trade total return swaps linked to U.S.-listed equities, indexes and digital assets. The offering expands the firm’s multi‑asset prime brokerage platform, allowing a single counter‑party relationship and cross‑margining across supported asset classes.

Service overview

The Delta One product provides total return swaps that give clients exposure to the economic performance of the referenced asset without requiring direct ownership. Payments are based on the asset’s return and agreed financing terms. The service is targeted at hedge funds, asset managers and other financial institutions seeking efficient exposure to traditional and digital markets.

Multi‑asset integration

Clients can execute swaps on U.S. equities, indexes and digital assets while managing collateral and exposures through Ripple Prime’s existing prime brokerage relationship. The platform operates around the clock, supporting cross‑margining of positions across foreign exchange, fixed income, over‑the‑counter swaps and cleared derivatives.

Recent financing and growth

Since completing the $1.25 billion acquisition of Hidden Road in October 2025, Ripple Prime has raised additional capital, including a $200 million debt facility in May and a $275 million private placement of senior unsecured notes in August. The firm reports more than $1 billion in regulatory net capital and clears over $3 trillion annually for more than 300 institutional customers.

Strategic context

The Delta One launch follows earlier expansions such as integration with EDX Markets for spot liquidity and perpetual futures, and access to the Hyperliquid decentralized derivatives venue. These moves reflect Ripple Prime’s strategy to provide a unified brokerage experience across both traditional and digital asset markets.