Ripple Prime's institutional perpetual swap offering operates through Trade.xyz, an exchange built on Hyperliquid for real-world asset-linked perpetual futures.

The venues where digital assets trade, from Coinbase and Binance to decentralized protocols, with their listings, licenses, custody and failures.

Futures, options, and perpetual swaps tied to digital-asset prices, letting traders hedge or lever positions and often dwarfing spot volumes.