Ripple Prime expands into US equity derivatives with Delta One business
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Ripple Prime, the multi-asset prime brokerage business owned by Ripple, has launched a Delta One service for institutional investors, expanding into US equity derivatives. This new offering enables clients to execute total return swaps linked to US-listed equities, indexes, and digital assets. Ripple stated that this service targets hedge funds, asset managers, and other financial institutions.
Why it matters
According to Ripple, the launch of the Delta One business is a significant development and a natural extension of the Ripple Prime platform. The service allows clients to gain exposure to asset returns without owning the underlying assets, potentially streamlining trading and risk management operations with a single counterparty and cross-margining across asset classes. The source does not elaborate further on broader market or regulatory impacts.
Key context
Ripple Prime was established after Ripple completed its $1.25 billion acquisition of Hidden Road in October 2025 and subsequently rebranded the business. The existing Ripple Prime platform provides services in prime brokerage, clearing, and financing across foreign exchange, derivatives, fixed income, and digital assets. The business has more than $1 billion in regulatory net capital and has recently secured funding through a $275 million private placement of senior unsecured notes and a $200 million debt facility to support its growth and lending capacity.
Key numbers and entities
Ripple Prime is the entity launching the Delta One service. Ripple acquired Hidden Road for $1.25 billion in October 2025. Ripple Prime raised $275 million in a private placement and secured a $200 million debt facility from funds managed by Neuberger Specialty Finance. Ripple Prime President Noel Kimmel is quoted regarding the development.
What remains unclear
The source does not specify pricing, client onboarding processes, or geographic availability beyond the US equity market focus. It is also unclear how the Delta One service will be integrated operationally with Ripple Prime’s existing offerings or what competitive advantages it may provide. No regulatory or compliance details related to the new product are provided.