Ripple has constructed a new headquarters in Toronto, Canada, which will serve as a focus for crypto engineering innovation. This new site contributes to the company’s worldwide growth.
Ripple Labs has built a new office in Toronto, Canada with the objective of establishing an engineering cluster to accelerate crypto innovation by hiring the area’s finest technical talent. As the company continues to develop throughout North America, this will be Ripple’s first office in Canada.
This news was made by the corporation behind the XRP (XRP) cryptocurrency on Wednesday. Ripple intends to expand its office to include hundreds of blockchain engineers, including data scientists, machine learning scientists, and product managers. According to the release, Ripple intends to employ 50 engineers initially, with the goal of hiring hundreds.
“Cryptocurrency and blockchain give a great opportunity for engineers to solve complex issues, with the potential for these solutions to affect the global transfer of wealth,” says Brad Garlinghouse, CEO of Ripple.
As blockchain technology becomes more pervasive, Ripple intends to capitalize by employing top tech talent and growing its global footprint. CEO Brad Garlinghouse said further:
“Virtually every financial institution is developing a crypto strategy to capitalize on this technology, which will underlie our future global financial systems. Cryptocurrency is one of the most exciting businesses to work in, thus it should come as no surprise that talent is abandoning IT incumbents and conventional banking to pursue this sector. We are continuing to develop and invest in our company by opening our first international office in Toronto.”
Ripple has already established a University Blockchain Research Initiative (UBRI) in the area and is collaborating with universities and colleges like the University of Waterloo and Toronto Metropolitan University.
Ripple wants to grow globally and opened offices in Miami, Florida, and Dublin, Ireland, in the last year. Ripple and FTX were searching for growth-driving acquisitions earlier this year. In March, the company also unveiled an NFT incubator program.
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