Ripple has connected Hyperliquid to Ripple Prime, which is the first time the platform has offered direct access to a DeFi venue, according to a Ripple Prime spokesperson.
Through this integration, Ripple Prime clients can access Hyperliquid’s onchain derivatives and manage those positions in the same prime brokerage platform they use for other exposures. These exposures may include centralized crypto venues as well as traditional markets such as foreign exchange and fixed income.
Even when clients tap liquidity on Hyperliquid, Ripple Prime remains their only counterparty. Practically, Ripple Prime sits between clients and the trading venues underneath, so institutions can manage positions across platforms using one unified risk and margin setup, rather than maintaining separate margin rules at each venue.
Ripple Prime called this connection its “first DeFi venue.” It also matches a bigger shift in the market:
Institutional participation in DeFi is expanding, and more firms want onchain access through structures that resemble traditional prime brokerage. Ripple Prime says it intends to support both centralized and decentralized liquidity venues as institutional demand grows.
Michael Higgins, international CEO at Ripple Prime, said the focus is to blend decentralized finance with institutional workflows by enabling direct trading, yield opportunities, and broader digital asset access—while improving liquidity reach, efficiency, and innovation for clients.
Ripple Prime was formed after Ripple acquired Hidden Road for $1.25 billion. The acquisition was announced in April 2025, closed in October 2025, and then rebranded as Ripple Prime. The platform serves over 300 institutional clients and clears more than $3 trillion per year across markets.
In October 2025, Ripple said Ripple Prime’s business had tripled since the deal was announced, with additional growth expected from both new and existing clients. Ripple Prime provides clearing, prime brokerage, and financing across foreign exchange, digital assets, derivatives, swaps, and fixed income, with XRP and Ripple’s RLUSD stablecoin included across parts of its offering.
