Odaily Planet Daily reports: Ripple’s prime brokerage division, Ripple Prime, is launching perpetual contracts linked to real-world assets (RWA) for institutional clients, covering over 100 reference markets including equities, indices, ETFs, and commodities. The service is offered through Trade.xyz and supports cross-margining, enabling clients to share account funds across multiple positions to enhance capital efficiency. As institutional demand for leverage and 24/7 trading grows, the open interest of perpetual contracts for traditional assets on major platforms has risen from nearly zero to $9 billion over the past year.
Ripple Prime International CEO Michael Higgins said that some institutions use such contracts for basis trading, while others use them to express directional views outside regular market hours. He also noted that traditional hedge funds are very close to directly trading tokenized real-world assets. (Bloomberg)