Altcoins News
By Bruce Buterin
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Why Thompson, Why Now. Ripple's been quietly building something bigger than a payments rail.
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Ripple Prime and the Hidden Road Foundation. The Thompson hire didn't land in a vacuum. Ripple Prime — the institutional brokerage arm that…
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What's Still Unclear. There's a fair amount Ripple hasn't said. The company hasn't named who will take over Thompson's…
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Ripple just pulled Joseph Thompson out of the London Metal Exchange. He's leaving after nearly a decade there, with his last day at the LME set for August 31, and heading…
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Thompson's background is pretty deep. At the LME, he held the title of senior vice president and head of treasury — a role that put him squarely in charge of managing liquidity…
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Ripple's been quietly building something bigger than a payments rail. The company has pushed into custody, stablecoins, and tokenized assets over the past couple of years, and…
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Thompson's commodities exchange background fits that picture, at least on paper. Managing clearing-related liquidity at one of the world's oldest metals exchanges gives you a…
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No specific products announced yet. No timelines either.
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Read also: XRP Treasury Company Seeks Nasdaq Listing, Aiming to Transform Crypto Public Markets
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Hidden Road itself is no small operation. It reportedly clears over $3 trillion in annual trades for more than 300 institutional clients.
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Three trillion dollars a year is a lot of clearing volume to build around.
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There's a fair amount Ripple hasn't said. The company hasn't named who will take over Thompson's role at the LME, which is a pretty significant gap given how central treasury and…
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That's going to frustrate anyone trying to size up the commercial impact of the hire. Thompson's experience maps well onto the problems Ripple is trying to solve — collateral…
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More context: Bitwise Moves $15.4 Million in XRP as Price Dips to $1.30
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What's clear is that Ripple's been stacking the institutional credibility fast. A billion-dollar-plus acquisition, a new Delta One desk, a DTCC working group seat, and now a…
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