Ripple hires London Metal Exchange treasury chief Joseph Thompson

Ripple has hired Joseph Thompson, the senior vice president and head of treasury at the London Metal Exchange, to join its trading and markets team. Thompson, who departs the LME on August 31, 2026, will focus on Ripple's tokenization strategy for real-world assets. The high-profile hire coincides with Ripple's broader push into traditional financial markets, highlighted by Ripple Prime's launch of a Delta One business offering total return swaps on U.S. equities and digital assets.

Thompson appointment to Ripple

• ▪Joseph Thompson will officially depart the London Metal Exchange on August 31, 2026, before starting his new role at Ripple.
• ▪At Ripple, Joseph Thompson will focus on the company's tokenization strategy and delivery for real-world assets.
• ▪Ripple hired Joseph Thompson, the senior vice president and head of treasury at the London Metal Exchange, to join Ripple's trading and markets team.

Thompson's LME treasury experience

• ▪Joseph Thompson worked at the London Metal Exchange for nearly ten years, managing treasury operations, investment, liquidity, and collateral risk management.
• ▪Prior to joining the London Metal Exchange, Joseph Thompson held liquidity, funding, and risk management positions at Deutsche Bank, ICAP, and London Clearing House.

Ripple tokenization infrastructure expansion

• ▪Ripple recently invested in tokenization firms ZILO and Licuido to add token issuance and collateral mobility tools to its capital-markets infrastructure.
• ▪The appointment of Joseph Thompson does not confirm any new commodity tokenization product or establish that future tokenized assets will use XRP.

Ripple Prime Delta One launch

• ▪Ripple Prime launched a Delta One business allowing institutional clients to execute total return swaps linked to U.S.-listed equities, equity indices, and digital assets.
• ▪Ripple Prime, which originated from Ripple's $1.25 billion acquisition of Hidden Road in October 2025, clears over $3 trillion in annual trades.
• ▪Ripple Prime has more than $1 billion in regulatory net capital and recently completed a $275 million private placement of senior unsecured notes.

Ripple institutional markets strategy

• ▪Ripple Prime joined a Depository Trust & Clearing Corporation working group focused on tokenized securities, though this does not place XRP inside the clearing system.
• ▪Ripple is expanding its institutional offerings beyond cross-border payments into custody, stablecoins, treasury technology, tokenized assets, and prime brokerage.

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