Ripple Prime Launches 24-Hour Stock Swaps, HSBC Warns of Insufficient Liquidity

Ripple Prime has announced the launch of around-the-clock trading for stock, commodity, and foreign exchange market swap contracts, supporting over 100 underlying assets and using RLUSD as collateral. These swap contracts track perpetual futures listed on Hyperliquid, allowing trading during traditional market hours. Trading firm Virtu has already begun using the service. HSBC's head of digital asset research, Daragh Maher, pointed out that this launch represents an evolution in the market, which is still small and needs sufficient depth to enhance product attractiveness. Early activity is expected to focus on market makers and hedge funds rather than institutions seeking strategic hedges. Weekend trading risks have already emerged, with approximately $52 million in leveraged positions being forcibly liquidated in a short period last Saturday, leading to sell-offs spreading to Hyperliquid, where contracts lacked new stock market price references. HSBC stated that Ripple's success depends on whether its services are more competitive than those of existing brokers. The new business is offered under Ripple Prime's British Virgin Islands license, with plans to expand to more regions in the future.

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