Ripple Prime Expands into Equity Markets with New Stock Trading Desk

Ripple Prime, the brokerage unit of crypto infrastructure giant Ripple, has expanded its offerings for institutional clients trading across traditional and digital markets. The firm's stock trading desk now enables investors to execute total return swaps on US stocks, indexes, and crypto assets.

Noel Kimmel, president of Ripple Prime, said the offering is aimed at a range of market participants including hedge funds, market makers, and ETF issuers.

The launch marks major news for the XRP community as Ripple pushes into equity markets. The firm has also closed an upsized $275 million private placement of senior unsecured notes to support its ongoing and expanding U.S. business.