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Odaily News: Ripple's Ripple Prime has begun providing funds with leveraged exposure to equities and indices through total return swaps, charging financing fees. After Ripple acquired multi-asset prime broker Hidden Road for $1.25 billion in 2025, it gained the business capabilities to clear trades, finance investment positions, and process transactions in equities, bonds, foreign exchange, and digital assets. The Tradr 2X Long SNDK Daily ETF pays Ripple a fee of the overnight bank funding rate plus 4 percentage points, translating to an annualized financing cost of approximately 8% at current rates.
According to CoinDesk, Ripple Prime, the prime brokerage division under Ripple, has begun providing financing services for leveraged equity ETFs, charging financing fees to funds through total return swaps. This market was previously dominated by large banks and securities firms. In October 2025, Ripple acquired multi-asset brokerage Hidden Road for $1.25 billion, entering the clearing, financing, and cross-asset trading businesses. In August 2026, Ripple launched its Delta One business, offering total return swap products linked to U.S. equities, market indices, and digital assets, while maintaining over $1 billion in regulatory net capital and completing a $275 million senior notes issuance.
According to The Block, Ripple announced an expansion of its partnership with global hedge fund Brevan Howard, which will adopt Ripple Prime’s multi-asset prime brokerage, clearing, and financing services to further expand its utilization of Ripple’s institutional-grade financial infrastructure and digital asset products. Managing approximately $35 billion in assets, Brevan Howard’s Group Chief Operating Officer Alan McGroarty stated that as digital assets increasingly integrate with traditional financial markets, institutional demand for digital asset infrastructure continues to grow, and Ripple’s platform is expected to enhance operational efficiency and capital utilization for investment teams. This partnership builds on an existing investment relationship between the two parties. Brevan Howard had previously invested in Ripple and participated in its $500 million strategic funding round last year. Ripple Prime is an institutional-grade prime brokerage platform launched by Ripple following its $1.25 billion acquisition of Hidden Road in 2025.