Ripple Prime and Bullish (NYSE: BLSH) announced on April 29 that they are expanding their integration. Ripple Prime customers can now trade Bitcoin (BTC) options directly on the Bullish platform through existing sub-accounts, and options trading is supported using Ripple USD (RLUSD).
Integration core functions
According to the April 29 announcements from Ripple Prime and Bullish, the core functions of this integration include:
BTC options trading: Ripple Prime customers can access Bullish’s regulated BTC options market through existing sub-accounts, without additional KYC (know your customer) verification procedures
RLUSD support: Bullish confirmed that Ripple USD (RLUSD) stablecoins are available for options trading on the Bullish platform
Instant capital deployment: Customers can deploy funds instantly through existing sub-accounts, without adding extra account-opening steps
Mike Higgins, international CEO of Ripple Prime, said in the announcement: “Bullish and Ripple Prime have been long-term partners. As traditional asset markets and digital asset markets become increasingly interconnected, they provide a pathway for Ripple’s institutional clients to access a powerful derivatives market.”
Platform scale data
According to Bullish’s April 29 announcement, Bullish’s Bitcoin options market ranks second by open interest among BTC options settled in cryptocurrency. Ripple Prime also disclosed that its 2025 liquidation volume exceeds $3 trillion.
Cross-venue margin program
According to Bullish’s April 29 announcement, Bullish plans to roll out cross-venue margin support, allowing institutional clients to manage collateral between exchange and over-the-counter (OTC) platforms to improve capital efficiency when trading options across multiple venues. The announcement states that the related functionality is still in the planning stage and has not been officially launched yet.
FAQ
How can Ripple Prime customers access Bullish’s BTC options market?
According to the April 29 announcements from Ripple Prime and Bullish, Ripple Prime customers can directly trade BTC options on the Bullish platform through existing sub-accounts without additional KYC verification procedures, while also supporting trading with RLUSD.
How does Bullish’s BTC options market rank?
According to Bullish’s April 29 announcement, Bullish’s Bitcoin options market ranks second by open interest among BTC options settled in cryptocurrency.
What is the purpose of the cross-venue margin support feature planned by Ripple Prime and Bullish?
According to Bullish’s April 29 announcement, the planned cross-venue margin support will allow institutional clients to manage collateral between exchange and over-the-counter (OTC) platforms, with the goal of improving capital efficiency when trading options across multiple platforms; the related functionality is currently still in the planning stage.
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