Ripple hires LME treasury chief for tokenization push

Ripple has hired London Metal Exchange treasury executive Joseph Thompson for its trading and markets team, according to an Aug. 28 report. Summary Ripple appointed Joseph Thompson to the trading and markets team, focusing on tokenization strategy and delivery. Thompson leaves LME on August 31 after nearly ten years working at the metals exchange. He previously held liquidity, funding and risk positions at Deutsche Bank, ICAP and LCH respectively. Ripple recently launched Delta One swaps covering U.S. equities, indices and digital assets for institutions. The appointment itself does not confirm any new commodity tokenization product or XRP-related market launch. Thompson will leave the LME on Aug. 31 after nearly a decade at the exchange. His work at Ripple will focus on tokenization strategy and delivery. Ripple has not disclosed his exact title, starting date or reporting structure. Ripple gains experience from a major commodities exchange Thompson currently serves as senior vice president and head of treasury at the LME. His professional profile lists experience managing treasury operations at the exchange, which provides futures and options markets for industrial metals. Earlie...