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After yesterday’s official announcement of the integration with Bullish, Mike Higgins, CEO of Ripple Prime, added details that turn a standard partnership into a serious tool for hedge funds.
Higgins emphasized that Ripple Prime clients are no longer just “looking at” Bullish, but now have direct access to its BTC options markets as the platform now allows funds to seamlessly switch between Bullish’s Bitcoin options markets and traditional markets.
Considering that Bullish ranks second globally by open interest in this segment, according to him, Ripple Prime effectively gives its clients the keys to one of the most liquid order books in the world.
RLUSD to power Ripple's one-stop shop
An important detail from Higgins is the confirmation that Ripple USD (RLUSD) is now fully used for trading on the platform. This is not just a “showcase” asset, but one that can be actively traded and used to realize profit and loss from Bitcoin positions.
The most significant technical signal from Mike is that cross-margin support is coming soon. For institutions, this is critical, as they will be able to optimize collateral and use their capital more efficiently. In simple terms, they will be able to trade larger positions while locking up less capital.
Higgins’ post highlights that Ripple Prime is moving beyond being a service around the XRP Ledger ecosystem and is becoming a full one-stop shop for the broader digital asset market, especially derivatives. If an institutional player wants to trade Bitcoin options through regulated infrastructure, Higgins makes it clear that this is now done via Ripple Prime.
Dan Burgin
U.Today Editorial Team
