Ripple Prime has launched a Delta One business, enabling institutional clients to trade equity derivatives and digital assets.
The launch of Delta One business allows clients to execute Total Return Swaps across US-listed equities, indices, and digital assets. The offering is aimed at hedge funds, asset managers, and other financial institutions with varying investment horizons, risk mandates, and reporting requirements.
Expanding equity derivatives capabilities
The rollout extends Ripple Prime's activities into the equities market and adds to its existing prime brokerage, clearing, and financing services covering foreign exchange, derivatives, fixed income, and digital assets. Through the platform, clients maintain a single counterparty relationship and can cross-margin exposures across these asset classes on a 24/7 basis, which the company states are intended to support institutional-scale trading programmes.
Ripple Prime has structured its Delta One business to operate solely within the clearing and financing flow, without an accompanying market-making or proprietary trading desk.
According to Noel Kimmel, President of Ripple Prime, the launch represents an extension of the platform built to serve equities, foreign exchange, derivatives, fixed income, and digital asset prime brokerage, clearing, and financing needs through a single, cross-asset counterparty.
Capital position and recent financing
Ripple Prime has entered the equity derivatives market with over USD 1 billion in regulatory net capital. In August 2026, the company closed an upsized private placement of senior unsecured notes worth USD 275 million to support its continued growth. This followed a USD 200 million debt facility provided earlier in 2026 by funds managed by Neuberger Specialty Finance.
The sequence of capital raises indicates continued investment in Ripple Prime's balance sheet as it broadens its product range beyond its original prime brokerage and financing services. The Delta One business adds a further asset class to a platform that already spans traditional and digital finance instruments, reflecting a broader industry trend of prime brokerage providers consolidating multi-asset access under a single counterparty structure for institutional clients.
