Stocks, metals and currencies around the clock: Ripple Prime opens 24/7 swaps on more than 100 traditional markets priced on Hyperliquid

Ripple is bringing round-the-clock trading in traditional assets to its institutional clients, using prices from a crypto exchange. Ripple Prime, the prime brokerage unit Ripple built from its $1.25 billion purchase of Hidden Road, said on Thursday it now offers perpetual swaps on more than 100 reference markets: stocks, equity indices, ETFs, precious metals, energy and currencies. The swaps reference perpetual futures listed by Trade.xyz on Hyperliquid, the decentralized derivatives platform. Ripple Prime is the counterparty on each trade, so clients get the exposure without trading on Hyperliquid themselves.

Trading and settlement run 24 hours a day, seven days a week, The Block and Bitcoin.com News reported. Clients can cross-margin the swaps against their other positions at Ripple Prime and can post RLUSD, Ripple's dollar stablecoin, as collateral, subject to where they are based. The service runs under Ripple Prime's licence in the British Virgin Islands, and Ripple says it plans to add more jurisdictions without giving a timeline.

Market maker Virtu is already trading the swaps. "Virtu is ramping up across emerging liquidity pools," said Scotte Moegling, its head of business development for digital assets, as quoted by The Block. The launch builds on Ripple Prime's support for Hyperliquid, added in February, and comes on the same day Hyperliquid's founder asked US regulators to police the firms that build on his network rather than the network itself.