Ripple adds Hyperliquid to its prime brokerage platform in first DeFi integration

Quick Take
- Ripple has added Hyperliquid to Ripple Prime, its institutional prime brokerage platform.
- The move marks the platform’s first direct integration with a DeFi venue, a Ripple Prime spokesperson told The Block.
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Ripple has integrated Hyperliquid into Ripple Prime, marking the first time the platform has directly supported a decentralized finance venue, a Ripple Prime spokesperson told The Block.
The integration allows Ripple Prime clients to access Hyperliquid’s onchain derivatives markets while managing those positions alongside exposures across other asset classes within the same prime brokerage platform. Those exposures can include centralized crypto venues as well as traditional markets such as foreign exchange and fixed income.
Clients continue to face Ripple Prime as their sole counterparty, even when accessing liquidity on Hyperliquid, the spokesperson said. In practice, Ripple Prime sits between clients and the underlying trading venues, allowing positions across platforms to be managed under a single risk and margin framework, rather than separately at each venue.
The Hyperliquid integration is Ripple Prime’s “first DeFi venue,” the spokesperson said. The move comes as institutional participation in DeFi markets continues to expand, with firms increasingly looking to access onchain platforms through structures that resemble traditional prime brokerage services. Ripple Prime plans to support both centralized and decentralized liquidity venues as institutional activity in DeFi grows.
“At Ripple Prime, we are excited to continue leading the way in merging decentralized finance with traditional prime brokerage services, offering direct support to trading, yield generation and a wider range of digital assets,” said Michael Higgins, international CEO at Ripple Prime, in a statement. “This strategic extension of our prime brokerage platform into DeFi will enhance our clients' access to liquidity, providing the greater efficiency and innovation that our institutional clients demand.”
Ripple Prime was formed following Ripple’s $1.25 billion acquisition of Hidden Road, a multi-asset non-bank prime broker. The deal was announced in April 2025, completed in October 2025, and the business was subsequently rebranded as Ripple Prime. The platform serves more than 300 institutional clients and clears more than $3 trillion annually across markets, according to Ripple’s website.
In October 2025, Ripple said that since the initial acquisition announcement, Ripple Prime’s business has grown threefold, with further expansion expected among new and existing clients. Its services include clearing, prime brokerage, and financing across foreign exchange, digital assets, derivatives, swaps, and fixed income, with XRP and Ripple’s RLUSD stablecoin playing a role across its offerings.
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