Ripple launches a cryptocurrency hub in Toronto with plans to hire 50 people
In order to foster an engineering centre and attract the best engineering talent in the region, Ripple Labs has created a new office in Toronto, Canada. The opening of this office marks Ripple’s first in Canada as they broaden its operations in the region. The cryptocurrency XRP’s (XRP) creators announced this on Wednesday. The release states that Ripple will first employ 50 engineers with the intention of growing its office to include hundreds of blockchain engineers, ranging from data scientists and machine learning scientists to product managers.
Ripple intends to benefit from the increasing acceptance of blockchain technology by growing its global footprint and employing top tech talent. Brad Garlinghouse, CEO, continued: “Nearly all financial institutions are developing their own crypto strategies to benefit from this technology, which will support our future global financial systems. As one of the most exciting businesses to work in, cryptocurrency is attracting people away from established IT companies and traditional banking. With our first office in Toronto, we are extending our footprint internationally as we build and invest in our business.
With institutions like the University of Waterloo and Toronto Metropolitan University, Ripple already has a University Blockchain Research Initiative (UBRI) in the area. Ripple has already opened offices in Miami, Florida, and Dublin, Ireland, and has intentions to grow internationally. Ripple and FTX were searching for acquisitions earlier this year to fuel their expansion. In March, the company also unveiled an NFT incubation program.
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