Ripple just plugged its institutional prime brokerage platform directly into one of the more quietly ambitious trading venues in crypto. Ripple Prime now integrates with EDX Markets and EDXM International, giving institutional clients access to both spot markets and perpetual futures liquidity through a single platform.

What the integration actually does

Ripple Prime sits between institutional traders and the EDX venues, providing credit intermediation, net settlement, and collateral management so that hedge funds, asset managers, and trading firms can focus on actually trading.

The integration covers both EDX Markets, which handles spot trading, and EDXM International, which offers perpetual futures. That distinction matters because perpetual futures, contracts with no expiration date that track an underlying asset’s price, have become the dominant trading instrument in crypto. Offering both under one umbrella removes friction that would otherwise require separate accounts, separate margin pools, and separate risk management frameworks.

Net settlement is another key piece. Rather than settling every individual trade, Ripple Prime can net out positions and settle the difference. This frees up capital that would otherwise be locked in margin accounts, a meaningful advantage when you’re trading at institutional scale.

RLUSD enters the picture

The integration is also laying the groundwork for Ripple USD, the company’s US dollar-backed stablecoin known as RLUSD, to be used as a settlement and collateral asset on the EDX platform.

Ripple recently secured a $200M debt facility specifically to reinforce Ripple Prime’s capacity for margin financing and brokerage services.

Why EDX matters in this equation

EDX Markets was designed from the ground up for institutional participation, with a focus on efficient transaction infrastructure and clearing processes. By integrating with EDX, Ripple is making a clear statement about its target market: becoming essential infrastructure for firms that move serious capital.