Ripple has appointed Joseph Thompson, senior vice president and head of treasury at the London Metal Exchange, to its Trading and Markets team. Thompson is scheduled to leave the LME on August 31, 2026, and take up the new role supporting the company’s efforts in institutional trading, tokenized real-world assets and the connection of traditional financial markets with blockchain platforms.

Experience from a Major Commodities Marketplace

The London Metal Exchange ranks among the world’s largest commodities exchanges and serves as a primary marketplace for non-ferrous metals including aluminum, copper and zinc. Thompson’s background covers market structure, liquidity management and collateral operations. At Ripple, his responsibilities are expected to center on developing tokenized real-world assets and reinforcing trading operations that bridge conventional finance with blockchain-based systems.

The appointment does not indicate that the LME itself plans to adopt Ripple technology. It instead illustrates Ripple’s practice of drawing expertise from established market infrastructure providers as it moves deeper into institutional finance, liquidity and collateral management.

Broader Push into Corporate Treasury Infrastructure

The recruitment follows Ripple’s acquisition of GTreasury in 2025 for $1 billion. That platform, a longstanding treasury management system, has been integrated into Ripple Treasury. The combined offering pairs conventional cash management tools with digital-asset capabilities, allowing corporate clients to use both traditional and blockchain-based mechanisms for liquidity and operations.

Ripple has also introduced native digital-asset functions across its Treasury platform. The firm continues to position its tools to operate alongside existing financial messaging networks and banking systems, extending its reach beyond crypto-native users toward broader institutional clients.

Growing Focus on Tokenized Real-World Assets

Ripple has stepped up activity in real-world asset tokenization through investments in firms such as ZILO and Licuido. Those investments target infrastructure for issuing, transferring and managing collateral in institutional markets. The XRP Ledger has added new tokenized products, including a recent tokenized liquidity fund launched by Aviva Investors.

Ripple and Boston Consulting Group have estimated that the market for tokenized assets could approach $19 trillion by 2033. Growth will depend on regulatory clarity and institutional demand.

Expansion of Institutional Trading Capabilities

Ripple has broadened its institutional offering through Ripple Prime, its prime brokerage and trading platform. The firm recently launched a Delta One business that provides total return swaps linked to U.S.-listed equities, equity indices and digital assets. The products target hedge funds, asset managers and other institutions seeking exposure without direct ownership of the underlying securities.

Ripple Prime already supplies clearing, financing and prime brokerage services across foreign exchange and derivatives markets. The company promotes a single-counterparty model that gives institutions access to multiple asset classes through one platform. Ripple Prime holds more than $1 billion in regulatory net capital. The firm has also completed a $275 million private placement of senior unsecured notes to support further development of its institutional operations.

Thompson’s arrival adds commodities-market expertise to a strategy that now spans tokenization, treasury management, prime brokerage and derivatives, positioning Ripple as infrastructure for institutions active in both conventional and digital asset markets.