Bullish, a digital asset platform based in the Cayman Islands and listed on the NYSE, has announced an expansion of its partnership with Ripple Prime, Ripple’s global multi-asset prime brokerage platform. This collaboration will provide access to Bullish’s regulated Bitcoin options markets for Ripple Prime’s institutional clients.

Enhanced integration allows Ripple Prime users to directly engage in trading on Bullish’s BTC options markets, which are reported as the second-largest by open interest for crypto-settled Bitcoin options. This addition complements existing connections to Bullish’s spot, perpetuals, and dated futures markets. Stablecoins like Ripple USD (RLUSD) can be used for these trades.

Enhanced Capital Efficiency and Institutional Infrastructure

Future support for cross-venue margin will enable institutions to optimally manage collateral across exchanges and over-the-counter desks, thereby enhancing capital efficiency. This feature is particularly beneficial for institutional participants who need to handle complex multi-leg digital asset strategies across both derivatives and spot markets simultaneously.

As one of the largest global non-bank prime brokers, Ripple Prime offers multi-asset brokerage, clearing, and financing services, having cleared over USD 3 trillion in 2025 according to company data. The expanded integration with Bullish expands the range of derivatives products available to its institutional clients.

Chris Tyrer, President of Bullish Exchange, highlighted that growing demand for crypto derivatives among institutions makes options access crucial for sophisticated investors managing risk across their digital asset portfolios. Mike Higgins, International CEO at Ripple Prime, further emphasized that the cross-margin capability will deepen market participation and optimize capital efficiency for institutional clients dealing with a regulated, well-capitalized counterparty.