Ripple (XRP) announced Wednesday that Ripple Prime, its institutional prime brokerage platform, now supports Hyperliquid (HYPE).
The integration allows institutional clients to access decentralized derivatives while cross-margining positions with traditional assets including foreign exchange, fixed income and over-the-counter swaps.
Hyperliquid surpassed $5 billion in open interest and $200 billion in monthly trading volume by mid-January. The platform recently expanded into commodities futures and prediction markets.
Ripple Prime was created following Ripple's $1.25 billion acquisition of Hidden Road. This integration represents the platform's first DeFi expansion.
What Happened
Michael Higgins, Ripple Prime International CEO, said the integration aims to bridge traditional finance and decentralized markets. Clients can access Hyperliquid liquidity through a single counterparty relationship with centralized risk management and consolidated margin.
The platform currently supports XRP perpetual futures along with Bitcoin (BTC) and Ethereum (ETH) products. Hyperliquid's HIP-3 upgrade enables stock and commodity perpetuals, with over 300 development teams building via HyperEVM.
Hyperliquid announced HIP-4 on Monday to add outcome trading for prediction markets. The proposal introduces fully collateralized contracts without margin trading or liquidations.
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Why It Matters
Precious metals futures drove $71 million in liquidations on Hyperliquid on January 29 amid volatility in gold, silver and copper markets. Silver perpetual futures became the platform's third most active market during that period.
The HYPE token traded around $33 on Tuesday, roughly flat on the week but up approximately 20% since the HIP-4 announcement. XRP declined 20% over the past week amid broader cryptocurrency market weakness.
Hyperliquid's permissionless market deployment requires 500,000 HYPE tokens staked, creating economic alignment for third-party developers.
The platform operates without know-your-customer requirements, while Ripple Prime provides verified institutional access.
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