Marc Asch to Step Down as Head of Ripple Prime by 2026

A Major Leadership Shift at RippleXRP-3.75% Prime

Marc Asch, the founder of Hidden Road and current head of Ripple Prime, will step down by the end of 2026.

According to reports citing a Ripple spokesperson, Senior Vice President Noel Kimmel will take over the primary leadership role.

Kimmel will lead the institutional brokerage business as the firm expands across both digital and traditional markets.

The Journey from Hidden Road to Ripple Prime

Marc Asch founded Hidden Road in 2018 as a specialized prime brokerage for institutional traders.

Before starting Hidden Road, Asch built a career in traditional finance, including a notable role at SAC Capital.

In October 2025, Ripple acquired Hidden Road in a massive $1.25 billion deal. Ripple subsequently rebranded the entity as Ripple Prime.

What Does a Prime Broker Actually Do?

Think of a prime broker as a trusted financial concierge for big investors like hedge funds or family offices.

Instead of opening separate accounts everywhere, institutional traders use a prime broker to manage capital, execute trades, and hold assets safely.

Ripple Prime provides this crucial link, connecting large market participants to diverse asset classes, including digital tokens.

Expanding the Ecosystem: RLUSD and GTreasury

Ripple Prime offers institutions structured exposure to digital assets, including Ripple's native stablecoin, RLUSD.

Stablecoins allow institutional players to move value fast, bridging conventional cash management with blockchain tech.

During that same busy month of October 2025, Ripple also completed another $1 billion acquisition of the stablecoin platform GTreasury.

These strategic acquisitions significantly boosted Ripple's corporate liquidity network and corporate finance ecosystem.

Recognition at the 2026 Hedgeweek US Awards

The continuous growth of Ripple Prime recently earned high praise from the broader financial sector.

The firm won the Prime Broker of the Year: EMEA award at the 2026 Hedgeweek US Awards.

The annual Hedgeweek US Awards recognize company contributions across several important operational categories:

• Custody and safe asset management
• Trading infrastructure and speed
• Blockchain technology integration
• Regulatory compliance solutions
• Decentralized finance (DeFi) tools

Winning this award highlights growing market trust in Ripple as a leading brokerage player in world finance.

Looking Ahead for Ripple Prime

Marc Asch's planned exit in late 2026 provides a long window for a smooth executive transition.

With Noel Kimmel stepping into leadership, Ripple Prime plans to maintain its momentum in institutional crypto adoption.

Past performance of digital assets or past operational results is not a guarantee of future digital asset returns or operational results. You can review official market data on platforms like bitkub.com/th/market/XRP.