Ripple Prime, formerly Hidden Road, has partnered with Coinbase to offer institutional clients access to crypto derivatives on the crypto exchange. This comes as the prime brokerage firm continues to expand its crypto offerings, having added support for Hyperliquid as its first DeFi venue last month.
Ripple Prime Partners With Coinbase To Offer Crypto Derivatives
In a press release, Ripple announced that Ripple Prime clients will now have access to the full suite of Coinbase derivatives cleared by Nodal Clear. The crypto firm has also become a clearing member of Nodal Clear as part of this partnership.
Notably, these institutional clients will now have access to nano Bitcoin and nano Ethereum futures alongside nano-sized XRP and Solana contracts, which the top crypto exchange offers. Ripple noted that these offerings are available 24/7 in a CFTC-regulated environment, enabling “precise risk management and global market access.”
As a Futures Commission Merchant (FCM), Ripple Prime will directly facilitate the expanded access to Coinbase derivatives. The prime brokerage offers clearing and financing services and cleared over $3 trillion last year.
It is worth noting that this move comes just about a month after Ripple added support for Hyperliquid. The decentralized exchange became the first DeFi venue that the prime brokerage platform added, enabling institutional clients to access on-chain derivatives.
Commenting on this move, Noel Kimmel, President of Ripple Prime, said,
Offering the full suite of Coinbase Derivatives contracts within Ripple Prime’s robust clearing framework underscores our commitment to delivering increased market access and efficiency to institutions globally.
Investment In Crossover Markets
Ripple has also moved to expand its investment portfolio. The crypto firm was among those that invested in Crossover Markets’ Series B funding. The crypto technology trading firm, which provides spot liquidity for institutional clients, announced that it had raised $31 million at a $200 million valuation.
As CoinGape reported, Ripple also recently invested in t54 Labs, an AI agent infrastructure startup. The crypto firm was among the investors that participated in the $5 million seed round to advance AI agent finance.
The crypto firm has also expanded its payment platform by integrating custody, collections, and liquidity into a single system. It has also unified global fiat and stablecoin transfers, removing the need for multiple vendors.