Marc Asch will step down at the end of 2026 as head of Ripple Prime, the prime brokerage arm of California-based crypto firm Ripple, about a year after Ripple acquired the business, formerly known as Hidden Road.

A Ripple spokesperson said Noel Kimmel, senior vice president of Ripple Prime, will succeed Asch as he leaves to pursue new opportunities.

Ripple announced the US$1.25 billion acquisition in April 2025 and completed it in October, renaming the business Ripple Prime.

Hidden Road Partners CIV US LLC said in April 2025 that it had received approval from the Financial Industry Regulatory Authority to operate as a broker-dealer.

Crypto prime brokerages typically provide institutional clients with access to liquidity, custody, leverage, and risk management for digital-asset trading.

An industry analysis said the segment is maturing as more traditional financial institutions explore digital assets.

🔗 Source: CoinDesk