Ripple Prime expands into US equity derivatives with Delta One business
Ripple Prime, Ripple’s multi-asset prime brokerage business, launched a Delta One service for institutional investors, expanding into US equity derivatives. The offering allows clients to execute total return swaps linked to US-listed equities, indexes and digital assets, Ripple said in a Thursday announcement.

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Key Facts
- Fact 1: Ripple said the business has more than $1 billion in regulatory net capital.
- Fact 2: Ripple Prime was created after Ripple completed its $1.25 billion acquisition of Hidden Road in October 2025 and rebranded the business.
- Fact 3: Earlier in August, Ripple Prime closed a $275 million private placement of senior unsecured notes to support its growth.
- Fact 4: In May, Ripple Prime secured a $200 million debt facility from funds managed by Neuberger Specialty Finance to expand its lending capacity for institutional clients.
Ripple Prime, Ripple’s multi-asset prime brokerage business, launched a Delta One service for institutional investors, expanding into US equity derivatives. The offering allows clients to execute total return swaps linked to US-listed equities, indexes and digital assets, Ripple said in a Thursday announcement.
Total return swaps provide exposure to an asset’s returns without requiring ownership of the underlying asset. The service targets hedge funds, asset managers and other financial institutions. Ripple said clients can use a single counterparty and cross-margin exposures across the supported asset classes around the clock.
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