Ripple Prime has launched perpetual swaps referencing more than 100 markets, including stocks, indices, ETFs, metals, energy and foreign exchange. The contracts reference perpetual futures listed on Hyperliquid by Trade.xyz, with Ripple Prime as the transaction counterparty. Clients can trade 24/7, including weekends, and use RLUSD as collateral subject to jurisdictional eligibility. Ripple said clients can evaluate collateral needs across asset classes within the same portfolio. Market maker Virtu is among the institutional clients using the products. The service initially operates under a CIV BVI license, with expansion to additional regions planned but not dated. Bloomberg previously reported that open interest in similar real-world asset-linked perpetual contracts had reached about $9 billion, up from almost zero a year earlier. The launch adds to Ripple’s institutional brokerage business following its $1.25 billion acquisition of Hidden Road and its rebranding as Ripple Prime.