Bullish has deepened its partnership with Ripple in a move that could broaden institutional access to crypto derivatives. The company said on Wednesday that it is extending Bullish’s options markets to users of Ripple Prime, Ripple’s global multi-asset prime brokerage platform. The integration is already live, according to Bullish.
The expansion gives Ripple Prime’s institutional clients direct access to Bullish’s regulated Bitcoin options market, which Bullish described as the second-largest by open interest for crypto-settled Bitcoin options. That access adds another layer to an existing relationship between the two firms, which already connected Ripple Prime users to Bullish’s spot, perpetuals and dated futures markets. Bullish also said stablecoins such as Ripple USD, or RLUSD, can be used to trade options on its platform.
For institutions, the appeal is not only product breadth but also speed and operational simplicity. Bullish said Ripple Prime users can deploy capital instantly through existing sub-account structures without any additional KYC requirements. The companies also pointed to a planned cross-venue margin feature, which would allow institutions to optimize collateral across exchanges and OTC desks and improve capital efficiency.
Rising Institutional Interest
Chris Tyrer, president of Bullish Exchange, framed the move as a response to rising institutional interest in crypto derivatives and options trading. In the company’s announcement, he said access to options is important for sophisticated investors seeking more precise ways to manage risk across digital asset portfolios, and said the new link with Ripple Prime gives its institutional network a regulated route into those markets.
Ripple Prime also highlighted the significance of the integration, describing Bullish and Ripple Prime as longtime partners already serving institutional clients in derivatives markets. Mike Higgins, International CEO at Ripple Prime, said the ability to cross-margin across different venue types strengthens participation and improves capital efficiency while still working through a regulated and well-capitalized counterparty. Ripple said its prime brokerage business clears more than $3 trillion in 2025, showing the scale of the platform that is now gaining access to Bullish’s options market.
The announcement comes as institutions continue to push deeper into crypto trading infrastructure, particularly in products that mirror the risk-management tools used in traditional finance. Options are often viewed as essential for hedging, yield strategies and directional exposure, and Bullish is positioning the Ripple Prime integration as part of that broader shift. Bullish is an institutionally focused digital asset platform providing market infrastructure and information services, while Ripple’s broader business spans payments, custody, liquidity and treasury management.
For Bullish, the deal reinforces its derivatives offering and gives it another distribution channel into the institutional market. For Ripple Prime, it adds a regulated Bitcoin options venue to an already expanding digital asset brokerage stack. With the integration now live, the partnership appears designed to make it easier for institutions to move between spot, futures and options trading within a more connected prime brokerage workflow.
Source: https://blockchainreporter.net/bullish-adds-options-trading-for-ripple-prime-users-in-major-institutional-crypto-push/
