Ripple Prime Head Marc Asch to Step Down at Year-End; Noel Kimmel Named Successor
Summary
- Ripple said Marc Asch will step down at year-end and that Noel Kimmel has been appointed as his successor.
- Ripple Prime said it provides prime brokerage and financial services to institutional investors across traditional finance, including digital assets, foreign exchange, derivatives and bonds.
- Ripple said it has expanded into custody, stablecoins, prime brokerage and corporate treasury management, and acquired GTreasury and Rail.
Forecast Trend Report by Period
Marc Asch, who has led Ripple’s institutional prime brokerage business, will step down at the end of the year. Noel Kimmel, Ripple Prime’s senior vice president, has been named his successor.
Ripple said Asch will leave at the end of 2026 to pursue new opportunities, CoinDesk reported on November 10.
Asch founded Hidden Road in 2018. Ripple announced in April 2025 that it would acquire Hidden Road for $1.25 billion, completed the deal in October 2025 and renamed the business Ripple Prime.
Ripple Prime provides prime brokerage, clearing and financial services to institutional investors across traditional financial markets, including digital assets, foreign exchange, derivatives and bonds. Some products use Ripple’s dollar-backed stablecoin RLUSD as collateral.
Ripple has recently expanded into custody, stablecoins, prime brokerage and corporate treasury management. In 2025, it acquired treasury management software company GTreasury for $1 billion and stablecoin payments platform Rail for $200 million.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.