Ripple just gave Wall Street the keys to the fastest-growing derivatives market in DeFi with an announcement that its institutional prime brokerage platform, Ripple Prime, is now integrated with Hyperliquid, a leading decentralized exchange for perpetual futures. According to the announcement, this integration is a major step in the convergence of traditional finance (TradFi) and decentralized finance (DeFi) that now allows institutional investors to access on-chain liquidity through a regulated gateway.
So, long story short, Ripple is now giving its institutional clients access to the biggest on-chain perps venue with up to $5.8 billion in open interest, and cross-margining alongside fixed income, FX, and swaps all in one platform.
By fusing Hyperliquid’s zero-gas, sub-second speed orderbook with Ripple’s institutional rails and counterparty risk controls, the partnership positions Ripple as the first serious Wall Street gateway into the on-chain derivatives market without the usual chaos.
The choice of platform is understandable without explanations, but still - Hyperliquid dominates over 70% of on-chain derivatives volume across the whole crypto market, regularly clears $13-15 billion daily and pushes up to $4 million in protocol earnings every 24 hours. The native HYPE token, now trading near $33 with an $8 billion market cap, is backed by aggressive revenue-fed buybacks - already hundreds of millions deep.
Impact on XRP
For the XRP ecosystem, the integration serves as a liquidity catalyst. XRP perpetual futures are already a staple on the Hyperliquid order book, trading alongside Bitcoin and Ethereum. Spot too, as two fXRP pairs are already present on the protocol.
With Ripple Prime now facilitating direct access, the market observer may expect an influx of institutional capital, potentially eliminating disruption and increasing depth for XRP derivatives in a decentralized environment first of all.
Add to that: over 1.5 million users, TPS north of 200,000 and real-world asset perps like gold and silver now live via HIP-3, and you’ve got the most institutional-ready DeFi venue in the game directly integrated into XRP-first infrastructure.
Gamza Khanzadaev
Godfrey Benjamin
Caroline Amosun
Tomiwabold Olajide