Ripple loses head of its $1.25 billion acquisition

Ripple’s head of its $1.25 billion acquisition is departing, with a new leader set to take over Ripple Prime after the unit tripled its revenue since the deal. The change comes as Ripple seeks to sustain growth in its prime brokerage business, which was acquired to expand its institutional offerings beyond payments. Specific financial terms of the leadership transition were not disclosed. The development matters because Ripple Prime has become a key growth engine within Ripple’s broader expansion strategy. What to watch next is whether the incoming head can maintain the unit’s revenue momentum and how the transition affects Ripple’s institutional client relationships.