TLDR
- Ripple Prime users now have access to Bullish BTC options markets.
- Bullish says its BTC options market ranks second by open interest.
- RLUSD can be used to trade options on the Bullish platform.
- The integration uses existing Ripple Prime sub-account structures.
- Cross-venue margin support is planned for institutional clients.
Bullish has expanded its partnership with Ripple Prime to add options trading access for institutions. The move gives Ripple Prime users direct access to Bullish’s regulated BTC options markets. It also adds options to existing access for spot, perpetuals, and dated futures.
The companies said the integration is now live. Ripple Prime clients can use current sub-account structures, and no extra KYC process is required. Stablecoins such as Ripple USD, known as RLUSD, can also be used to trade options on Bullish.
Bullish Adds Options Trading for Ripple Prime Users
Bullish said the update gives institutional clients a wider set of digital asset trading tools. Its BTC options market is described as the second-largest crypto-settled Bitcoin options market by open interest. The access is aimed at firms that trade and manage digital assets.
The new service builds on existing connectivity between Bullish and Ripple Prime. Ripple Prime users already had access to Bullish spot markets, perpetuals, and dated futures. Now, they can also trade options through the same broader setup.
Chris Tyrer, President of Bullish Exchange, said demand for crypto derivatives is growing among institutions. He said, “Having access to options is central for sophisticated investors looking to manage risk more precisely.” He added that the expanded integration gives investors a regulated route to Bullish options.
Ripple Prime Expands Digital Asset Offering
Ripple Prime is Ripple’s global multi-asset prime brokerage platform. It offers brokerage, clearing, and financing services for institutional clients. The company said Ripple Prime cleared more than $3 trillion in 2025.
The Bullish integration adds new options access to Ripple Prime’s digital asset services. It also allows clients to deploy capital through existing account structures. This can reduce steps for institutions already using the Ripple Prime platform.
Mike Higgins, International CEO at Ripple Prime, said the firms have worked together for years. He said, “Bullish and Ripple Prime have been longtime partners.” He also said options access supports deeper participation through regulated counterparties.
Cross-Venue Margin Support Is Planned
The companies also said support for cross-venue margin is planned. This feature would help institutions manage collateral across exchanges and OTC desks. It is designed to help firms use capital more efficiently while trading options.
Cross-venue margin can be useful for firms active across several markets. It may allow clients to manage positions without separating collateral at each venue. However, the companies did not give a launch date for the planned feature.
The integration is live for Ripple Prime users. Bullish said interested institutions can contact its sales team, while Ripple also shared its contact email. The update keeps the focus on regulated access, Bitcoin options, and institutional digital asset trading.
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