Ripple Prime leadership changes as Marc Asch prepares to exit brokerage business
Leadership is changing at Ripple Prime as the institutional prime brokerage integrates further into Ripple after the former Hidden Road acquisition. Marc Asch is leaving at the end of the year, with Noel Kimmel set to take over the business and team within the crypto company.
Highlights
- Marc Asch, founder of Hidden Road, will leave Ripple Prime by year-end following the $1.25 billion acquisition and rebrand by Ripple in 2025.
- Noel Kimmel, Ripple Prime's senior vice president, will assume leadership to steer the institutional brokerage business within Ripple.
- Ripple Prime expands institutional trading services using the RLUSD stablecoin as collateral for prime brokerage, supporting Ripple's growth beyond XRP and cross-border payments.
Succession plan after Hidden Road rebrand
As reported by CoinDesk, Marc Asch is stepping down roughly a year after Hidden Road was acquired by Ripple and later rebranded as Ripple Prime. A company spokesperson said in an email that Asch, founder of Hidden Road, will leave at the end of the year to pursue new opportunities.The spokesperson said Ripple is "extremely grateful" for Asch's work building Hidden Road, now Ripple Prime. Noel Kimmel, senior vice president of Ripple Prime, is stepping up to lead the business and team within Ripple.
California-based Ripple announced its $1.25 billion acquisition of Hidden Road in April 2025. The company completed the deal and renamed the business Ripple Prime that October.
Broader institutional push at Ripple
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 unit broadens Ripple's reach in institutional trading and uses the company's dollar stablecoin, RLUSD, as collateral for some prime brokerage products, according to Ripple.Ripple, which remains closely associated with XRP, has been expanding beyond cross-border payments into custody, stablecoins, prime brokerage and corporate treasury management. The leadership transition keeps that institutional strategy in focus as the company builds out services for professional market participants.
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