Overview
- Ripple Prime now offers perpetual-swap contracts that track Trade.xyz perpetuals on Hyperliquid and cover more than 100 stocks, commodities and currencies, letting clients hold positions with no expiry and trade outside normal exchange hours.
- Clients can post Ripple’s dollar‑pegged RLUSD stablecoin as collateral and Ripple Prime serves as principal counterparty, managing margin, cross‑margining and client risk on its brokerage platform.
- Liquidity concerns surfaced after roughly $52 million of leveraged chip‑stock positions were liquidated in about ten minutes when underlying shares were not trading, showing how thin order books can amplify forced selling in weekend markets.
- HSBC warned limited depth will likely favor market makers, proprietary traders and hedge funds until the market grows, and Ripple has not disclosed trading volumes, leverage limits, haircuts or full risk models for the product.
- The service runs under Ripple Prime’s British Virgin Islands license and builds on Ripple’s earlier moves—including the Hidden Road acquisition and new financing lines—to expand into bank‑like prime brokerage and fee income from financing leveraged positions.