Ripple, through its division Ripple Prime, now offers institutional clients access to over 100 traditional markets in the form of tokenized perpetual contracts, tradable and settled 24/7 on Hyperliquid. These instruments cover stocks, indices, ETFs, metals, energy and currencies, with Virtu Financial among the first users. Open interest on RWA perpetual contracts exceeds $18.7 billion, compared to just $161 million in July 2025. The house stablecoin RLUSD can be used as collateral, with a market cap now exceeding $2.4 billion, up 85% since the start of the year. This launch is part of a broader tokenization trend, with Morgan Stanley targeting early 2027 to launch its own tokenized shares.
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