Ripple Prime Brings Round-the-Clock RWA Swaps Into Institutional Trading

TL;DR: Ripple Prime says eligible institutional clients can trade perpetual swaps referencing more than 100 traditional markets through its new offering.

Exposure to traditional markets is increasingly being packaged for venues that never close. Ripple Prime said on October 15 that it had introduced support for real-world-asset perpetual swaps covering more than 100 reference markets, including equities, ETFs, commodities and currencies.

The contracts reference perpetual futures listed by Trade.xyz on Hyperliquid, while Ripple Prime acts as principal to institutional customers. Ripple says Virtu is among the firms trading the product. Clients can also cross-margin exposures with other supported assets and, where available, use its RLUSD stablecoin as collateral.

There is an important difference between these products and owning the underlying shares or barrels of oil. A perpetual swap provides derivative exposure, with funding, margin, counterparty and liquidation risks. Around-the-clock access does not mean the traditional market underneath is itself open for continuous price discovery.

For Ripple, this expands its position beyond payments and custody into cross-asset brokerage. For the wider tokenisation market, it points to a different path to 24/7 finance: institutions may first adopt crypto-native derivatives referencing familiar assets before the underlying securities infrastructure moves onchain. Availability is subject to jurisdiction and the offering’s stated licensing arrangements.

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