Ripple Expands into Delta One Market Dominated by Goldman and JPMorgan

Ripple has entered the market of US-listed stocks, major stock indices, and crypto without directly owning them through its Delta One trading desk inside Ripple Prime.

This move puts Ripple into a business dominated by Wall Street banks such as Goldman Sachs and JPMorgan.

The stakes on these desks are enormous, with rogue-trader losses at Société Générale and UBS totaling billions in 2008 and 2011.

Ripple Prime's Delta One desk allows clients to bet on the price moves of various assets without directly owning them, using total return swaps (TRS) as their core tool.

Despite being a crypto company, XRP is not stated as a requirement for using the new service.