Ripple Prime Adds RWA Perpetual Swaps Tied to Hyperliquid Futures

The notable move here is structural rather than product-level: a prime brokerage is sourcing exposure from a decentralized perpetuals venue, blurring the line between institutional intermediation and DeFi liquidity. That matters most for desks wanting traditional-asset exposure outside market hours, and for Hyperliquid, whose order books become a reference layer for regulated-facing intermediaries. The open question is whether this becomes a template for other prime brokers, or remains a single-firm arrangement — and how reference pricing and settlement hold up when underlying markets are closed.