Marc Asch, founder and head of Ripple Prime, will step down from his role at the end of 2026. Noel Kimmel, senior vice president of the business, will succeed him as leader of the institutional prime brokerage unit. A Ripple spokesperson confirmed the transition. Ripple acquired Hidden Road for $1.25 billion in April 2025, completing the deal and rebranding it as Ripple Prime in October of that year. The division provides prime brokerage, clearing, and financing services across digital assets and traditional markets to institutional clients.