What to Know
- Ripple Prime clients can now trade crypto derivatives listed on Coinbase Derivatives Exchange.
- The contracts are cleared by Nodal Clear, giving Ripple’s institutional clients entry into regulated U.S. crypto futures markets.
- This expands Ripple beyond payments and into institutional trading and brokerage.
Ripple is expanding its services beyond payments as it opens the door for its clients to trade crypto derivatives on Coinbase’s regulated exchange in the United States. According to an announcement shared by Ripple and Nodal Clear, clients using Ripple Prime can now access crypto derivatives listed on the Coinbase Derivatives Exchange. These contracts are cleared through Nodal Clear, a regulated clearing house in the U.S.
The update gives Ripple’s institutional clients direct access to regulated derivatives markets in the US for the first time.
Ripple Prime Clients Gain Access to Crypto Futures
Coinbase Derivatives offers both traditional futures contracts and perpetual-style futures that are available 24 hours a day. The platform operates in a regulated environment under oversight from the U.S. Commodity Futures Trading Commission (CFTC).
Boris Ilyevsky, Head of U.S. Futures Exchange at Coinbase, said the collaboration helps bring regulated crypto trading to more market participants. “We’re pleased to collaborate with Ripple to continue expanding access to Coinbase Derivatives contracts,” said Ilyevsky. “As demand for regulated crypto futures continues to grow, this collaboration reinforces our commitment to delivering deep liquidity and 24/7 trading to a broader range of market participants.”
Partnership With Nodal Clear
The derivatives contracts accessed through Ripple Prime are cleared through Nodal Clear. Clearing services play a key role in ensuring trades are settled safely and reducing risk between buyers and sellers.
Paul Cusenza, Chairman and CEO of Nodal Clear, welcomed Ripple as a new clearing member. “We are pleased to welcome Ripple as a new clearing member of Nodal Clear,” Cusenza said. “Through this relationship, Ripple’s clients can now efficiently access the full suite of Coinbase Derivatives contracts.” Cusenza added that the partnership will help expand trading opportunities for institutional investors using the clearing house.
Role of Hidden Road in the Integration
The new offering is made possible through Hidden Road Partners CIV US LLC, a futures trading firm acquired by Ripple last year. After the acquisition, the platform was rebranded as Ripple Prime. The service provides brokerage, clearing, and financing tools designed for large investors and institutions.
Ripple Prime processed more than $3 trillion in clearing volume in 2025, showing the growing demand from institutions looking to trade digital assets through regulated channels. Noel Kimmel, President of Ripple Prime, said the new integration will give clients more trading opportunities. “We are pleased to partner with Nodal Clear and Coinbase as we continue to expand our exchange coverage,” said Kimmel. “Offering the full suite of Coinbase Derivatives contracts within Ripple Prime’s clearing framework reflects our commitment to delivering increased market access and efficiency.”
Price Moves
Despite the positive news around Ripple’s expansion, the price of XRP has followed the wider crypto market decline. XRP is down about 3% in the past 24 hours and is currently trading around $1.41. The drop appears to be linked to overall market weakness rather than any XRP-specific news.
Bitcoin also fell around 2.1% during the same period, pushing the total crypto market capitalization down by roughly 1.86% to about $2.42 trillion. Market data suggests XRP is closely following Bitcoin’s price movements in the short term. Analysts are watching the $1.40 level as a key support area. If XRP manages to hold above this level, the price could stabilize between $1.40 and $1.50. However, a break below $1.40 could lead to further declines toward the $1.30–$1.35 range. Meanwhile, the BASE token is showing strength despite the market downturn. The token is trading around $0.0514, up roughly 5% over the past 24 hours.
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