News ยท Institutions & ETFs
Institutions can now trade swaps across more than 100 markets using RLUSD collateral, though HSBC cautions that thin liquidity limits adoption.
Key point 1 of 3
01
Ripple Prime launched 24/7 swaps across 100+ stock, currency, and commodity markets collateralized by the RLUSD stablecoin.
Key point 2 of 3
02
Virtu has started using the service, which routes exposure through perpetual futures listed by Trade.xyz on Hyperliquid.
Key point 3 of 3
03
HSBC warned that thin order books will restrict participation mainly to basis traders and market makers rather than institutional hedgers.
Context
Ripple has pushed deeper into prime brokerage infrastructure following its acquisition of Hidden Road, seeking utility for its RLUSD stablecoin across off-market hours.
Why it matters
Proprietary trading desks and market makers gain synthetic off-hours exposure, while Ripple captures financing fees traditionally collected by prime brokers.
What to watch
Ripple Prime's expansion into additional regulatory jurisdictions and reported institutional swap volumes.
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