Virtu Trades Ripple Prime Swaps Linked to More Than 100 Markets

Ripple Prime’s institutional swaps tied to more than 100 traditional markets are already being traded by Virtu, with clients able to use Ripple USD (RLUSD) as collateral.

Ripple Prime announced the launch Oct. 15. It acts as principal to clients, and each swap references a perpetual futures contract listed by Trade.xyz on Hyperliquid, a derivatives venue.

The reference markets include equities, equity indexes, exchange-traded funds, metals, energy and foreign exchange. Trading and settlement continue seven days a week.

Clients can cross-margin swap exposures against other asset classes supported by Ripple Prime. RLUSD collateral availability may vary by jurisdiction.

“RWA swaps are where traditional and digital markets meet,” said Michael Higgins, international CEO of Ripple Prime.

The offering currently operates under Ripple Prime’s CIV BVI license. The company plans to offer it in additional regions but has not set a timeline.

Ripple Prime’s traditional-asset perpetual swap offering builds on its Feb. 4 support for Hyperliquid, which gave institutional clients access to onchain derivatives liquidity and cross-margining across supported asset classes.