Ripple to Hire Joseph Thompson, CFO of London Metal Exchange

Ripple is set to hire Joseph Thompson, the Chief Financial Officer of the London Metal Exchange (LME). Thompson plans to join Ripple's trading and market organization after leaving the exchange on August 31. At Ripple, he will focus on the tokenization strategy for real assets. This hiring is seen as a way for Ripple to bolster its traditional finance market experience as it expands its institutional trading and real asset tokenization business. On August 27, Ripple announced the launch of its Delta One business within Ripple Prime. Delta One is an institutional derivatives business that offers total return swaps (TRS) based on U.S. listed stocks, indices, and digital assets. Ripple Prime holds over $1 billion in regulatory net capital and has completed a $275 million senior unsecured bond private placement. Ripple acquired GTreasury for $1 billion and restructured it as Ripple Treasury. Ripple's tokenization page introduces the XRP ledger as an infrastructure for real asset tokenization for financial institutions. Thompson's joining is scheduled for August 31, and Ripple continues to expand its institutional financial infrastructure.

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