Ripple Prime, the multi-asset prime brokerage unit of Ripple, has launched a Delta One service enabling institutional investors to execute total return swaps linked to US-listed equities, indexes and digital assets.
The offering provides exposure to asset returns without requiring ownership of the underlying instruments, according to a Thursday announcement. Clients can trade through a single counterparty and cross-margin exposures across supported asset classes on a continuous basis.
The service targets hedge funds, asset managers and other financial institutions, Ripple Prime said. The business operates with over $1 billion in regulatory net capital, supported by existing prime brokerage, clearing and financing capabilities in foreign exchange, derivatives, fixed income and digital assets.
Ripple Prime President Noel Kimmel described the Delta One launch as a natural extension of the platform’s existing infrastructure. The unit was formed following Ripple’s $1.25 billion acquisition of Hidden Road in October 2025 and subsequent rebranding.
The expansion follows recent funding initiatives, including a $275 million private placement of senior unsecured notes in August and a $200 million debt facility from Neuberger Specialty Finance in May, both aimed at supporting institutional lending capacity.
