Ripple is deepening its push into traditional finance and tokenized assets by hiring Joseph Thompson, senior vice president and head of treasury at the London Metal Exchange (LME). Thompson will officially depart the LME on August 31, 2026, before joining Ripple's Trading and Markets team, where he is expected to focus on expanding the company's strategy around tokenized real-world assets.
The appointment brings institutional commodities-market expertise into Ripple's growing financial infrastructure business. Ripple has been moving beyond blockchain payments, targeting custody, prime brokerage, trading, tokenization and market infrastructure. The XRP Ledger (XRPL) is central to that strategy as a layer for issuing and transferring tokenized assets and financial applications.
Ripple is also expanding its institutional trading through Ripple Prime, which has launched a Delta One business offering total return swaps linked to U.S.-listed equities, equity indices and digital assets. The service targets hedge funds, asset managers and other professional institutions, allowing derivative-based exposure rather than direct securities purchases. Ripple Prime currently holds more than $1 billion in regulatory net capital, and Ripple recently completed a $275 million private placement of senior unsecured notes.
Broader institutional efforts include the $1 billion acquisition of GTreasury in 2025, which has been integrated into Ripple Treasury with native digital-asset features. Ripple has invested in ZILO and Licuido to improve issuance, transfer agency and collateral infrastructure, while Aviva Investors has launched a tokenized liquidity fund on the XRPL. Ripple and Boston Consulting Group estimate tokenized assets could approach $19 trillion by 2033. The hire does not mean the LME is adopting Ripple technology; rather, it shows Ripple recruiting expertise from established market infrastructure as it expands beyond payments into institutional finance.
