Ripple Hires LME Treasury Executive Joseph Thompson

Ripple is strengthening its institutional finance business with the appointment of Joseph Thompson, senior vice president and head of treasury at the London Metal Exchange (LME), to its Trading and Markets team.

Thompson is scheduled to leave the LME on August 31, 2026, before joining Ripple. His new role is expected to support Ripple’s growing focus on tokenized real-world assets (RWAs) and the integration of blockchain technology with traditional financial markets.

His experience at the LME, one of the world’s largest commodities marketplaces, could prove valuable as Ripple expands its presence across institutional trading and market infrastructure. The company has increasingly moved beyond its traditional blockchain payments business into custody, prime brokerage, tokenization, derivatives and trading.

The XRP Ledger (XRPL) remains central to this strategy, serving as blockchain infrastructure for issuing and transferring tokenized assets and supporting financial applications.

Ripple is also expanding its traditional-market capabilities through Ripple Prime, its institutional prime brokerage and trading platform. The company recently introduced a Delta One business offering total return swaps tied to U.S.-listed equities, equity indices and digital assets.

The service targets hedge funds, asset managers and other institutional investors seeking exposure to underlying assets through derivatives without directly owning the securities. Ripple Prime already provides services including clearing, financing and prime brokerage across foreign exchange and derivatives markets.

Ripple is promoting a single-counterparty model designed to give institutions access to multiple asset classes through one infrastructure platform. Delta One products can be used for investment exposure, hedging, financing and broader portfolio management strategies.

The company says Ripple Prime has more than $1 billion in regulatory net capital. Ripple has also completed a $275 million private placement of senior unsecured notes, adding financial resources as it develops its institutional operations.

Thompson’s appointment highlights Ripple’s broader ambition to connect traditional markets with blockchain-based financial products. By combining tokenization, institutional trading and prime brokerage, Ripple is positioning itself as financial infrastructure for institutions operating across both conventional and digital asset markets.