RIPPLE PRIME ANNOUNCES LEADERSHIP TRANSITION ONE YEAR AFTER 1.25 BILLION USD ACQUISITION
Marc Asch, founder of institutional prime broker Hidden Road and current head of Ripple Prime, will step down from his leadership position at the end of 2026 to pursue new ventures. According to a Ripple spokesperson on November 10, Senior Vice President Noel Kimmel has been appointed to succeed Asch, assuming oversight of commercial operations and personnel across the institutional brokerage division.
The executive transition occurs approximately one year after Ripple finalized its 1.25 billion USD acquisition of Hidden Road on October 24, 2025, subsequently rebranding the entity as Ripple Prime. Prior to the takeover, the platform serviced over 300 institutional clients and cleared roughly 3 trillion USD in annual trading volume across prime brokerage, clearing, and securities lending. Ripple reported that Ripple Prime's business scale has tripled since the acquisition was first announced.
Within this framework, Ripple's dollar-pegged stablecoin RLUSD has been integrated as collateral across select Ripple Prime brokerage offerings, enabling institutional participants to deploy digital assets in traditional financial markets. The leadership shift aligns with Ripple's broader expansion into enterprise financial services following its 2025 acquisitions of treasury management firm GTreasury for 1 billion USD and stablecoin payment platform Rail for 200 million USD.
DYOR. $XRP #Colecolen
Marc Asch, founder of institutional prime broker Hidden Road and current head of Ripple Prime, will step down from his leadership position at the end of 2026 to pursue new ventures. According to a Ripple spokesperson on November 10, Senior Vice President Noel Kimmel has been appointed to succeed Asch, assuming oversight of commercial operations and personnel across the institutional brokerage division.
The executive transition occurs approximately one year after Ripple finalized its 1.25 billion USD acquisition of Hidden Road on October 24, 2025, subsequently rebranding the entity as Ripple Prime. Prior to the takeover, the platform serviced over 300 institutional clients and cleared roughly 3 trillion USD in annual trading volume across prime brokerage, clearing, and securities lending. Ripple reported that Ripple Prime's business scale has tripled since the acquisition was first announced.
Within this framework, Ripple's dollar-pegged stablecoin RLUSD has been integrated as collateral across select Ripple Prime brokerage offerings, enabling institutional participants to deploy digital assets in traditional financial markets. The leadership shift aligns with Ripple's broader expansion into enterprise financial services following its 2025 acquisitions of treasury management firm GTreasury for 1 billion USD and stablecoin payment platform Rail for 200 million USD.
DYOR. $XRP #Colecolen
