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Ripple Prime has expanded its institutional offerings by deepening its integration with the digital asset exchange Bullish, according to a Wednesday update. The enhanced partnership extends Ripple Prime’s institutional clients’ access to regulated Bitcoin (BTC) options markets.
Ripple Prime’s prime brokerage arm is described as a centralized hub for brokerage, clearing, and financing services for institutional investors, supporting multiple assets. Under the expanded integration, the RLUSD stablecoin will be used to facilitate trades in the newly added BTC options markets.
Previously, Ripple Prime users could connect to Bullish’s spot markets, perpetual swaps, and dated futures. The addition of BTC options is positioned as a further step in broadening access to crypto derivatives through the platform.
The update notes that Bullish claims BTC options represent the second-largest market by open interest for crypto-settled options for the flagship coin. Executives from both companies said the move reflects maturing market demand.
Mike Higgins, International CEO at Ripple Prime, said the upcoming feature will make it possible for institutions to improve capital efficiency when using multiple exchanges.
The update also references that last year, Ripple Platform logged $3 trillion in transaction volume.
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