Ripple (XRP), a renowned blockchain company, announced the building of its first office in Toronto, Canada on June 22, which will act as a key engineering hub. This decision resulted from the company’s desire to expand its reach to its consumers globally in order to provide them with the greatest facilities available. Last year, Ripple also established its branches in Miami and Dubai.
Ripple new office in Toronto, Canada
Before opening an office in Canada, Ripple began cooperation with some Canadian institutions as part of a program known as the University Blockchain Research Initiative (UBRI). After that, it launched its offices on June 22, 2022, with a plan to employ 50 engineers from various fields at first.
🇨🇦Oh (hey) Canada! We’re opening our first Canadian office – a key engineering hub – in Toronto!
We're looking to hire 50 new employees in the area, eventually expanding to 100s of technical positions.
Check out our open roles: https://t.co/aHXO5QhG2Q
🍁 https://t.co/vm34Bz1lmD— Ripple (@Ripple) June 22, 2022
Following that, the company hopes to employ scores of blockchain software engineers, as well as applied data scientists, machine learning scientists, and product managers. The new Canadian office will assist the company’s continuing expansion efforts in North America and beyond.
On the opening of new office, Brad Garlinghouse, CEO of Ripple stated,
“Crypto and blockchain present an incredible opportunity for engineers to tackle difficult problems, with the potential for these solutions to impact the movement of value around the world. Nearly every financial institution is coming up with its crypto strategy to take advantage of this technology that will underpin our future global financial systems. Crypto is one of the most thrilling industries to work in, so it’s no surprise that talent is leaving tech incumbents and traditional finance to enter this space. We are continuing to scale and invest in our business by expanding our presence globally with our first office in Toronto.”
Ripple’s recruitment plan in contrast with the crypto industry
Garlinghouse also stated that Ripple would continue to hire professionals, which appears to be in direct contrast to other prominent cryptocurrency organizations that have laid off a wide range of employees in recent days. He further stated that the opportunities provided by the crypto sector are making many skilled engineers shift their domains from traditional banking.
Toronto City, a natural fit for Ripple: Mayor John Tory
On the news of Ripple having an office in the city, Mayor John Tory stated that Ripple and Toronto City will be a natural fit while applauding the company’s revolutionary technology.
Ripple’s growth plans amid its conflict with US SEC and crypto downturn
Ripple has been consistently trying to meet its growth goals by making daring steps, notwithstanding the current scenario. Even though the payment protocol network system is still being sued by the US Securities and Exchange Commission, the case is still ongoing in court. The verdict has been long-awaited, and the probabilities are Ripple will emerge victorious against the regulator.
As per information, Ripple now has considerable financial reserves. A strong financial position will make it possible for the company to take such measures toward development despite the ongoing market slump.
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