Ripple Prime Adds BTC Options on Bullish Using RLUSD

Ripple Prime institutional clients gained direct access to bitcoin options trading on Bullish using Ripple USD (RLUSD) on April 29, 2026. The integration links Ripple Prime’s brokerage framework to Bullish (NYSE: BLSH) and extends access beyond spot, perpetuals and dated futures to a regulated BTC options market.

Institutions that already operate sub-accounts with Ripple Prime can deploy capital and trade options on Bullish without completing additional KYC checks, the firms said. The arrangement uses the existing sub-account structure to preserve onboarding steps and speed entry into options trading for eligible clients.

Ripple posted on X: “Ripple Prime clients can now trade BTC options on Bullish — and use RLUSD to trade. Institutional crypto, fully integrated.” Bullish confirmed that stablecoins including RLUSD are accepted as collateral for options trading on its platform.

Bullish described its bitcoin options market as the second-largest by open interest among crypto-settled BTC options. The integration lets Ripple Prime clients trade those options alongside Bullish products they already access through Ripple Prime.

Both firms flagged plans for cross-venue margin support. When implemented, the feature is intended to let institutions manage margin and collateral across multiple exchanges and over-the-counter desks, reducing the need to move cash or crypto between platforms and potentially cutting funding frictions for multi-venue options strategies. Companies stressed that cross-venue margining is a planned enhancement and not yet available.

Mike Higgins, International CEO at Ripple Prime, highlighted the firms’ long partnership and noted that cross-margining across venues would strengthen participation and improve capital efficiency while maintaining exposure to regulated counterparties.

Ripple Prime provides brokerage, clearing and financing services across asset classes and reported it cleared more than $3 trillion in 2025. The Bullish link expands the set of regulated derivatives instruments available to Ripple Prime’s institutional client base.

With the integration live, Ripple Prime clients can combine options with futures, perpetuals and spot positions on Bullish using RLUSD and their existing sub-account setups.