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Ripple Prime head Marc Asch to step down, Noel Kimmel named successor
Marc Asch, the head of Ripple Prime, is stepping down about a year after the prime brokerage, formerly Hidden Road, was acquired by the crypto company best known for its cross-border payments business.
“We’re extremely grateful to Marc for everything he did as founder of Hidden Road, now Ripple Prime,” a company spokesperson said in an email.
“As he moves on at the end of the year to pursue new opportunities, Noel Kimmel, SVP, Ripple Prime is stepping up to lead the business and team within Ripple,” the spokesperson added.
California-based Ripple announced its $1.25 billion acquisition of Hidden Road in April 2025. CoinDesk first reported that the prime broker was in talks to be acquired. It completed the deal and renamed the business Ripple Prime that October.
Ripple Prime provides institutional clients with prime brokerage, clearing and financing across digital assets and traditional markets, including foreign exchange, derivatives and fixed income.
The business expands Ripple’s reach into institutional trading and uses the company’s dollar stablecoin, RLUSD, as collateral for some prime brokerage products, according to Ripple.
Ripple, which has a close association with XRP, has expanded into custody, stablecoins, prime brokerage and corporate treasury management.
Alongside Hidden Road, Ripple’s acquisition push included a $1 billion deal for treasury software provider GTreasury and a $200 million deal for stablecoin payments platform Rail in 2025, broadening the services it offers banks, asset managers and corporate clients.
Hidden Road was founded in 2018 by Asch, who previously worked at Steve Cohen’s hedge fund firms SAC Capital and Point72 Asset Management.
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Ripple Prime head Marc Asch to step down, Noel Kimmel named successor
Marc Asch, the head of Ripple Prime, is stepping down about a year after the prime brokerage, formerly Hidden Road, was acquired by the crypto company best known for its cross-border payments business.
“We’re extremely grateful to Marc for everything he did as founder of Hidden Road, now Ripple Prime,” a company spokesperson said in an email.
“As he moves on at the end of the year to pursue new opportunities, Noel Kimmel, SVP, Ripple Prime is stepping up to lead the business and team within Ripple,” the spokesperson added.
California-based Ripple announced its $1.25 billion acquisition of Hidden Road in April 2025. CoinDesk first reported that the prime broker was in talks to be acquired. It completed the deal and renamed the business Ripple Prime that October.
Ripple Prime provides institutional clients with prime brokerage, clearing and financing across digital assets and traditional markets, including foreign exchange, derivatives and fixed income.
The business expands Ripple’s reach into institutional trading and uses the company’s dollar stablecoin, RLUSD, as collateral for some prime brokerage products, according to Ripple.
Ripple, which has a close association with XRP, has expanded into custody, stablecoins, prime brokerage and corporate treasury management.
Alongside Hidden Road, Ripple’s acquisition push included a $1 billion deal for treasury software provider GTreasury and a $200 million deal for stablecoin payments platform Rail in 2025, broadening the services it offers banks, asset managers and corporate clients.
Hidden Road was founded in 2018 by Asch, who previously worked at Steve Cohen’s hedge fund firms SAC Capital and Point72 Asset Management.
#Write2Earn #goodnews1 $XRP
