Ripple Prime, Ripple’s institutional prime brokerage platform, has expanded its integration with the decentralized derivatives exchange Hyperliquid to now include HIP-3 symbols.
This update, according to Ripple Prime CEO Mike Higgins, gives institutional clients seamless, 24/7 on-chain access to perpetual contracts (perps) for traditional commodities and real-world assets (RWAs), specifically gold, silver, and oil. Ripple Prime first added support for Hyperliquid in early February 2026.
That initial integration focused on on-chain crypto perpetuals including XRP, BTC, and ETH perps and allowed institutions to access Hyperliquid’s deep liquidity while managing risk and margining centrally across Ripple Prime’s broader suite of assets (digital assets, FX, fixed income, OTC swaps, etc.). Hyperliquid was Ripple’s first DeFi venue integrated into its prime brokerage.
The new expansion specifically adds HIP-3 support. HIP-3 is Hyperliquid’s upgrade that enables permissionless creation of perpetual markets for a wide range of tokenized assets, including stocks, commodities, and other RWAs. It has driven significant growth on the platform.
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Impact and Market Stats for HIP-3
Recent figures show HIP-3 products accounting for: ~39–40% of Hyperliquid’s total daily trading volume, ~28% of total open interest. On the day of the announcement, HIP-3 saw daily volume spike to around $2.30 billion, with open interest nearing $2 billion. Commodities like oil have shown particularly strong activity, with WTI-linked open interest approaching hundreds of millions during volatile periods.
This move further positions Hyperliquid as an everything exchange bridging crypto-native and traditional finance exposures on-chain. One unified platform and counterparty relationship for trading crypto perps alongside tokenized commodity perps, with cross-margining and consolidated risk management. It lowers operational friction for TradFi players seeking DeFi-style 24/7 access to gold, silver, oil, etc.
Boosts institutional inflows and liquidity in its HIP-3 ecosystem, which has grown rapidly since activation in late 2025. This is part of Ripple’s push to connect traditional finance infrastructure with decentralized markets, building on Ripple Prime’s role as a bridge. This is a concrete step in institutional adoption of on-chain perpetuals for real-world assets, making tokenized commodity trading more accessible within a regulated prime brokerage framework.
The tokenized Real World Assets (RWA) market has experienced explosive growth entering 2026, shifting from experimental pilots in prior years to meaningful institutional adoption and on-chain liquidity. As of early-to-mid 2026, on-chain tokenized RWAs excluding stablecoins stand at approximately $19–36 billion, with some dashboards reporting figures around $24–27 billion following a roughly 266% surge throughout 2025.
This expansion reflects broader trends in bridging traditional finance with blockchain, including yield-bearing instruments, fractional ownership, and 24/7 trading access. Tokenized U.S. Treasuries dominate as the largest category, reaching ~$8.7–9.6 billion with some reports citing up to $12 billion recently.
Growth in this segment has been strong, around 120–127% YoY, driven by products like BlackRock’s BUIDL fund ($1.7 billion AUM) and offerings from Ondo, Franklin Templeton, and others for on-chain cash management and collateral. Tokenized commodities have surged, with total value around $7 billion, where gold accounts for roughly 70%.
Tokenized gold itself saw periods of 227% growth amid price volatility. Private credit and other yield-generating assets form another fast-growing segment, often cited in the high single-digit to low tens of billions when including broader representations. Broader projections vary by scope: estimates range from $100 billion+ potential by end-2026 to multi-trillion long-term forecasts.
Note that represented asset value can appear much higher depending on whether it counts underlying notional or only distributed on-chain tokens. Traditional players like BlackRock, banks like BNY/Citi, and prime brokerages are moving beyond pilots. Tokenization is becoming core infrastructure for efficiency, transparency, and global access.
Ripple Prime’s recent Hyperliquid integration for HIP-3 markets; enabling institutional 24/7 perps on gold, silver, oil, etc. exemplifies this bridge, boosting liquidity in tokenized commodities. RWAs offer real yield via Treasuries, money market funds, and private credit. This has proven resilient amid crypto volatility, attracting institutions seeking stable, on-chain collateral and cash management.
HIP-3 on Hyperliquid has driven massive activity in tokenized commodity perps, with open interest hitting ~$1.7–2 billion and daily volumes spiking to $2.3 billion representing ~39–40% of Hyperliquid’s total volume in recent periods. Oil and precious metals have led, often outpacing crypto-native pairs due to 24/7 access and geopolitical and macro drivers.
Other areas include tokenized stocks/equities, real estate still smaller but scaling from pilots, ESG/green assets, and infrastructure. Emphasis is shifting from issuance to trading volume and price discovery. Platforms like Hyperliquid, Ondo, and others facilitate this. However, fragmentation across chains, interoperability issues, and limited secondary liquidity in some segments create friction.