Ripple Invades Bank-Dominated Market with Delta One Trading Desk

Ripple has launched a Delta One trading desk inside its prime brokerage arm, Ripple Prime. This move puts Ripple into a business dominated by Wall Street banks like Goldman Sachs and JPMorgan.

The desk offers total return swaps on US stocks, indices, and digital assets without the need for direct ownership. Clients can bet on price moves of these assets without taking actual possession.

Ripple claims it has a 'clean-hands edge' over the incumbents due to its single-counterparty model. The company argues that its desk is built for the future of finance, offering cross-asset trading and 24/7 availability.

The new service is not an XRP product, and clients can use other assets like Bitcoin or Apple stock alongside the token in swaps.