David Schwartz, Ripple’s chief technology officer, announced on Tuesday that he will step down from his executive role at the firm at the end of the year.
Schwartz, who has spent more than 13 years at Ripple, was one of three engineers who architected the XRP Ledger, which Ripple leverages.
“The time has come for me to step back from my day-to-day duties as Ripple CTO,” Schwartz said in an X post, announcing the news. “But be warned, I’m not going away from the XRP community.”
The Ripple CTO didn’t provide a reason for the move, but said he’s excited about spending more time with his family and dedicating more time to coding.
He also said he will continue to play a role at the firm as CTO Emeritus, and has accepted an offer from Ripple co-founder Chris Larsen to join the firm’s board of directors.
Dennis Jarosch, Ripple’s vice president of engineering, will take over from Schwartz as CTO next year.
Ripple did not respond to a request for comment.