Overview
- Ripple Prime announced its Delta One business is live for institutional clients on Thursday, August 27, 2026, offering total return swaps tied to U.S.-listed equities, indexes and digital assets.
- Under the new service Ripple Prime will act as the single counterparty for swaps and allow cross-margining so eligible positions across equities, fixed income, FX and crypto can offset collateral requirements under one relationship.
- The Delta One desk uses a conflict-free execution model that focuses on clearing and financing and does not engage in market-making or proprietary trading, according to the company.
- Ripple Prime says the rollout is backed by more than $1 billion in regulatory net capital and recent financings, including a $200 million debt facility secured in May and a $275 million private placement of senior unsecured notes closed on August 18, 2026.
- The product builds on Ripple’s October 2025 Hidden Road acquisition and integrations with venues such as EDX Markets and Hyperliquid, and it could speed cross-asset trading, cut duplicate collateral for funds, and widen derivative access to investors who avoid direct crypto custody.