Ripple Prime Expands Into Equity Markets With Delta One Business Launch

Ripple Prime, the brokerage unit of Ripple, has expanded its offerings by launching a delta one business for institutions. This marks a significant move into equity markets, allowing investors to execute total return swaps on US stocks, indexes, and crypto assets.

The stock trading desk will provide synthetic equity exposure without the need to hold underlying shares, catering to market participants such as hedge funds, market makers, and ETF issuers. The launch is part of Ripple's aim to bridge traditional finance (TradFi) and the crypto industry on a single platform.

Ripple Prime closed an upsized $275 million private placement of senior unsecured notes to support its ongoing US business. Noel Kimmel, president of Ripple Prime, plans to use this additional capital to invest in the team and technology, boosting the firm's position as one of the largest non-bank prime brokers globally.

The XRP price has rebounded by 1% over the last hour and almost 5% over the past 24 hours. Trading volume has increased by 8% in the last 24 hours, while spot XRP ETFs are witnessing strong inflows from institutions.