Core Insights - Ripple has integrated the decentralized derivatives protocol Hyperliquid into its Ripple Prime platform, enabling institutional clients to access onchain derivatives liquidity while managing positions alongside traditional asset classes [1][3] - This integration marks Ripple Prime's first collaboration with a major decentralized finance (DeFi) venue, aiming to bridge traditional finance (TradFi) and DeFi markets [3][5] - The partnership allows qualified clients to trade across various asset classes supported by Ripple Prime, including digital assets, FX, fixed income, OTC swaps, and cleared derivatives [2][4] Company Developments - Ripple Prime was launched following Ripple's acquisition of Hidden Road in April 2025, which serviced over 300 top financial institutions and cleared approximately $3 trillion annually [3][4] - Hidden Road was rebranded to Ripple Prime in October 2025, serving as a brokerage platform and a bridge between TradFi and DeFi [4] - The integration with Hyperliquid enables Ripple Prime to cross-margin DeFi exposures with FX or Fixed Income, appealing to high-value institutional traders [4] Competitive Positioning - The partnership with Hyperliquid positions Ripple as a competitor to traditional digital prime brokers like FalconX and Coinbase Prime, indicating a strategic shift beyond a sole focus on XRP [5] - Ripple's support for Hyperliquid suggests that institutional-grade investors are increasingly interested in exploring DeFi, similar to their engagement with centralized exchanges (CEX) and digital assets [5]

hyperliquid processing $15b daily perp volume. that's kraken-level throughput on a dex. $5m daily revenue with 99% going to token buybacks. giancarlo just confirmed perps are legal on licensed exchanges. institutions have been waiting for exactly this regulatory green light to touch onchain derivatives ...

Every chain wants perps.Few can handle them.Sui’s low latency and native composability are enabling designs no other chain can touch.Here’s how five teams are pushing onchain derivatives forward 👇 ...