Ripple (XRP) Makes Major Wall Street Push With New Institutional Trading Business

The company behind XRP has made another move geared toward Wall Street and beyond its cryptocurrency roots by launching a new institutional trading business with Ripple Prime.

The new initiative, announced earlier on Thursday, will allow hedge funds, asset managers, and other institutional clients to execute Total Return Swaps (TRS) across US-listed equities, indices, and digital assets.

Deeper Into Wall Street The announcement shared by the company informed that the service is already live, and it aims to expand the firm’s presence in traditional financial markets less than a year after completing its $1.25 billion acquisition of prime broker Hidden Road.

Products within Delta One are derivatives designed to closely track the performance of an underlying asset or index.