Ripple Prime has launched Delta One, a new institutional business offering total return swaps across U.S.-listed equities, equity indices, and digital assets. The expansion, effective Aug. 27, is designed to give institutional investors cross-asset exposure through a single prime brokerage counterparty.
What Delta One Offers
The Delta One business provides access to total return swaps (TRS), a type of derivative that delivers the economic performance of an underlying asset—such as price moves and, for equities, dividends—without the buyer owning the asset. Delta one products are structured to closely track the underlying’s performance with minimal optionality.
According to the company, the offering spans multiple asset classes, including:
- U.S.-listed equities
- Equity indices
- Digital assets
Single-Counterparty Access for Institutions
By adding Delta One to its multi-asset brokerage, Ripple Prime aims to streamline cross-asset exposure and hedging through a single counterparty relationship. Centralizing access to equities, indices, and digital assets under one prime brokerage can reduce operational complexity for institutions managing strategies across both traditional and crypto markets.
Why It Matters
The move underscores continued convergence between traditional finance and digital assets, as institutional investors seek familiar instruments—such as swaps—to manage risk, express views, or execute relative-value trades across markets. Offering TRS on both conventional securities and crypto may help bridge liquidity and workflow needs for firms operating in a multi-asset environment.