Ripple Prime Launches Delta One Business, Expanding Equity Derivatives Capabilities for Institutional Clients

SAN FRANCISCO--(BUSINESS WIRE)--Ripple, the leading provider of blockchain-based enterprise solutions across traditional and digital finance, today announced the launch of its Delta One business within Ripple Prime, its global, multi-asset prime brokerage platform. Ripple Prime’s Delta One offering is live and enables clients to execute Total Return Swaps across U.S.-listed equities, indices, and digital assets, tailored to the diverse investment horizons, risk mandates, and reporting requirements of hedge funds, asset managers, and other financial institutions.

The Delta One launch marks a significant expansion of Ripple Prime’s capabilities within the equities market and complements its existing prime brokerage, clearing, and financing services across FX, derivatives, fixed income, and digital assets. Ripple Prime clients benefit from a single counterparty relationship and the ability to cross-margin exposures across these asset classes 24/7, providing efficient market access for institutional-scale trading programs.

Ripple Prime further differentiates its Delta One offering through its conflict-free execution model. Unlike incumbent Delta One desks that sit alongside market-making or proprietary trading businesses, Ripple Prime operates solely in the clearing and financing flow.

“The launch of our Delta One business is an important development for Ripple Prime and a natural extension of the platform we’ve built,” said Noel Kimmel, President of Ripple Prime. “Clients can now access equities, FX, derivatives, fixed income, and digital asset prime brokerage, clearing, and financing all through a single counterparty that is built for the future of finance: cross-asset, structurally aligned, 24/7. This is in line with what institutional market participants are asking for today, and we are proud to be the ones delivering it.”

Ripple Prime’s Delta One business introduces a well-capitalized counterparty to the equity derivatives market, with over $1 billion in regulatory net capital. This month, Ripple Prime successfully closed an upsized $275 million private placement of senior unsecured notes to support its continued growth. The notes offering followed Ripple Prime’s $200 million debt facility from funds managed by Neuberger Specialty Finance earlier this year.

About Ripple

Founded in 2012, Ripple is the leading provider of blockchain-based enterprise solutions across traditional and digital finance. Its solutions span global payments, custody, liquidity, and treasury management, serving as a one-stop shop for moving, storing, exchanging, and managing value. Ripple's stablecoin, RLUSD, and the cryptocurrency XRP underpinning these solutions allow Ripple and its customers to shape the modern financial system.