Ripple announced that Ripple Prime, its institutional prime brokerage platform, enabled support for Hyperliquid, a leading and popular DeFi derivatives protocol.
The move allows institutional clients to access on-chain derivatives liquidity while cross-margining DeFi positions alongside traditional assets and actions with OTC swaps and cleared derivatives.
This integration is notable for Hyperliquid’s acknowledgement by Ripple with the HYPE token launching in late 2024 and managing to take the crypto market by storm as one of the only alts to resists Bitocin’s recent downturn.
The move is part of Ripple’s wider strategy to bridge traditional finance and decentralized markets, offering institutions a counterparty relationship with centralized risk management.
For Hyperliquid, Ripple Prime support is validated by one of the largest altcoins in the crypto market, going by market cap and institutional presence. Hyperliquid is adored by DeFi natives, and the partnership has, in a way brough two different sections of the crypto investor world together.
With the HYPE token being accessible through a regulated prime brokerage, Hyperliquid gains exposure to institutional traders who previously couldn’t directly engage with DeFi protocols and tokens. The partnership also exposes XRP investors to Hyperliquid.
Hyperliquid’s HYPE token has shown resilience during Bitcoin’s recent downturn, suggesting confidence in the protocol’s fundamentals and long-term vision as a backbone to crypto DeFi.
The performance of HYPE was also mentioned on Bloomberg by Bob Diamond, Hyperliquid’s Strategies chair and former CEO of Barclays.
Increased institutional interest via Ripple could deepen liquidity for HYPE and further cement Hyperliquid’s role as a leading DeFi protocol.
For Ripple, the integration can boost Ripple Prime’s position among DeFi-oriented investors in particular as a gateway between TradFi and DeFi.
The post Ripple Prime Supports the HYPE With Hyperliquid Extension first appeared on AllinCrypto.
