Ripple is expanding its institutional trading business into U.S. equities through a new Delta One offering on its Ripple Prime platform.
The company said Thursday that Ripple Prime’s Delta One business is now live.
Institutional clients have gained the ability to trade total return swaps tied to the U.S.-listed stocks, equity indices and digital assets.
The service is aimed at hedge funds, asset managers and other financial institutions.
The launch expands Ripple Prime beyond its existing prime brokerage, clearing and financing services across foreign exchange, derivatives, and so on.
Ripple said clients can access those markets through a single counterparty.
Ripple’s institutional push
Ripple is also positioning the new business differently from traditional Delta One desks.
The company said its platform does not operate alongside a market-making or proprietary trading business. Instead, it focuses on clearing and financing.
The expansion comes as Ripple continues to build out the financial infrastructure business it has assembled around its prime brokerage operations. Ripple said Ripple Prime has more than $1 billion in regulatory net capital.
The company also disclosed that Ripple Prime recently completed a $275 million private placement of senior unsecured notes.
In 2022, Ripple became a minority investor in Hidden Road.
In April 2025, Ripple announced a $1.25 billion deal to acquire Hidden Road.
The company already offers clearing, prime brokerage and financing across FX, digital assets, derivatives, swaps and fixed income. The acquisition closed in October 2025, and Hidden Road was officially folded into Ripple as Ripple Prime.
Dan Burgin
U.Today Editorial Team
