Ripple Prime Launches Delta One Push Into US Equity Derivatives

Delta One products are linear derivatives designed to mirror movements in an underlying asset, while total return swaps let investors receive price gains and income without owning the security. Ripple Prime grew out of Ripple’s acquisition and rebranding of Hidden Road and already spans foreign exchange, fixed income, derivatives and digital assets. Adding US equity-linked products broadens the platform into a market traditionally dominated by major banks, supporting Ripple’s effort to offer hedge funds and asset managers one prime-brokerage relationship across conventional and crypto markets.

Ripple said on Aug. 27, 2026, that its Delta One business had gone live. Institutions can execute total return swaps linked to US-listed equities, indexes and digital assets, and cross-margin exposures around the clock through a single counterparty. Ripple Prime said it has more than $1 billion in regulatory net capital and closed an upsized $275 million private placement of senior unsecured notes in August, after securing a $200 million debt facility earlier in 2026 from funds managed by Neuberger Specialty Finance. The company did not disclose client names or trading volumes.