Ripple Prime Launches 24/7 RWA Perpetual Swaps Across 100+ Markets, Referencing Hyperliquid Perps
Published October 16, 2026, 15:15 PKT. Based on Ripple's official announcement of October 15, 2026, and reporting from The Block, FXStreet, CryptoWisser, KuCoin and particle.news.
Ripple's prime brokerage arm is putting stocks, gold and currencies on a crypto clock. Ripple announced on October 15, 2026 that Ripple Prime has launched support for real-world asset (RWA) perpetual swaps, derivatives that give institutional clients exposure to more than 100 reference markets spanning equities, equity indices, exchange-traded funds, metals, energy and foreign exchange, traded and settled 24 hours a day, including weekends.
The 100-market menu
The swaps cover more than 100 reference markets across equities, equity indices, ETFs, metals, energy and FX, according to Ripple's announcement, issued from San Francisco on October 15. Trading and settlement run around the clock, so clients can manage exposures to traditional asset classes outside typical exchange operating hours and respond to market developments as they happen, the company said.
The Hyperliquid leg
The swaps are traded through Ripple Prime as principal, meaning the brokerage stands as the counterparty on each trade. Their value references perpetual futures contracts listed by Trade.xyz on Hyperliquid, the decentralized derivatives venue known for its high-throughput perpetual futures engine, FXStreet reported. Clients access the products through Ripple Prime's brokerage services rather than trading directly on Hyperliquid.
Virtu is already trading
Market maker Virtu is among the institutional clients already using the offering, Ripple said. "Virtu is ramping up across emerging liquidity pools, and Ripple Prime's 24/7 cross-margining across asset classes helps us expand our presence more efficiently as markets move toward round-the-clock access," said Scotte Moegling, Virtu's head of business development for digital assets, in the announcement.
RLUSD as collateral, cross-margining across assets
The product supports cross-margining across asset classes, letting clients consolidate margin requirements and manage risk across positions under one brokerage relationship, according to CryptoWisser and KuCoin. Eligible clients can also post Ripple USD (RLUSD), Ripple's stablecoin, as collateral for the swaps.
BVI license today, wider reach tomorrow
The service is currently offered through Ripple Prime's BVI license, with plans to expand into additional regions, FXStreet reported. Ripple has not published leverage limits, haircut schedules or financing charges, particle.news noted. As structured, each swap is a bilateral contract with the brokerage as principal, so clients take on credit exposure to Ripple Prime rather than to the venues hosting the reference contracts.
Higgins: where traditional and digital markets meet
"RWA swaps are where traditional and digital markets meet," said Michael Higgins, International CEO of Ripple Prime, in the announcement. "Institutions want exposure to equities, commodities, and currencies with the round-the-clock access and efficiencies of digital infrastructure."
The context: a $9 billion RWA perp market
Open interest in RWA perpetuals has grown to about $9 billion over the past year, particle.news reported. In a parallel move, EQX Labs revealed plans to introduce 11 tokenized U.S. equity and ETF markets on Hyperliquid's HyperCore infrastructure, starting with stocks such as Apple, Nvidia, Amazon and Tesla, with each token backed by shares held in custody, according to FXStreet. Hyperliquid's HYPE token was trading near $82 after rebounding from an intraday low of roughly $77.59, FXStreet reported.
This article is news reporting and is not investment advice.
Sources
- Ripple official announcement, "Ripple Prime Launches 24/7 RWA Perpetual Swaps", October 15, 2026, primary source for the launch, the 100+ reference markets, the 24/7 trading and settlement, Virtu as a client, the Trade.xyz on Hyperliquid reference leg, the BVI licensing, and the Michael Higgins and Scotte Moegling quotes (also distributed via BusinessWire)
- The Block, "Ripple Prime adds RWA swaps referencing perpetual futures listed on Hyperliquid", October 15, 2026, secondary source for the principal-trading structure and the institutional product scope
- FXStreet, "Hyperliquid rebounds to $82 as Ripple Prime adds RWA perps", October 16, 2026, secondary source for the BVI license scope, the cross-margining mechanics, the EQX Labs tokenized equity plans, and the HYPE price action
- CryptoWisser, "Ripple Prime Adds 24/7 RWA Perpetual Swaps Across More Than 100 Markets", October 16, 2026, secondary source for the cross-margining and RLUSD collateral details
- KuCoin, "Ripple Prime Launches 24/7 RWA Swaps Across 100 Markets, Virtu Begins Trading", October 15, 2026, secondary source for the market coverage and the client rollout
- particle.news, "Ripple Prime Launches 24/7 RWA Perpetual Swaps for Institutions", October 16, 2026, secondary source for the bilateral counterparty structure, the unpublished leverage terms, and the $9 billion RWA perp open interest figure
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