According to CoinMeta, Ripple is expanding its institutional trading business through its Ripple Prime platform, entering the U.S. stock market, and launching a new Delta One product. The company stated on Thursday that the Delta One business of Ripple Prime is now live, allowing institutional clients to trade total return swaps related to U.S.-listed stocks, stock indices, and digital assets. This service is aimed at hedge funds, asset management companies, and other financial institutions. This launch takes Ripple Prime beyond its existing main brokerage, clearing, and financing services. Ripple mentioned that clients can access these markets through a single counterparty, distinguishing the new business from the traditional Delta One trading desk. The platform focuses on clearing and financing, rather than market making or proprietary trading activities. Ripple also noted that Ripple Prime has over $1 billion in regulatory net capital and recently completed a private placement of $275 million in senior unsecured notes.