Ripple Prime launches Delta One service to expand U.S. equity derivatives business
Ripple Prime's multi-asset prime broker business officially launches Delta One service to institutional investors, expanding its business scope to U.S. equity derivatives.
Ripple said in an announcement on Thursday that the service allows customers to execute Total Return Swap linked to U.S. listed stocks, indices and digital assets. Total income swaps allow investors to gain exposure to their earnings without holding the underlying assets.
This service is mainly for hedge funds, asset management companies and other financial institutions. Ripple pointed out that clients can trade across margin backed asset classes 24 hours a day through a single counterparty.
Noel Kimmel, President of Ripple Prime, said: "The launch of the Delta One business is an important milestone for Ripple Prime and a natural extension of the platform we have built."
Currently, Ripple Prime's existing prime broker, clearing and financing services cover foreign exchange, derivatives, fixed income and digital assets. Ripple said the business has a net regulatory capital of more than $1 billion.
Ripple Prime was founded in October 2025 after Ripple acquired Hidden Road for $1.25 billion and renamed its brand. In August of the same year, Ripple Prime raised $275 million through private placement of senior unsecured notes to support its business growth. In May, Ripple Prime also secured $200 million in debt financing from a fund managed by Neuberger Specialty Finance to expand the lending capabilities of institutional customers.

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