In a collaboration under Ripple’s University Blockchain Research Initiative (UBRI) in Canada, the University of Toronto, Canada’s largest university, has announced its intention to establish an autonomous XRP ledger validator.
This initiative aims to foster the growth of the cryptocurrency industry and support advancements in payment processing technology.
The start of a new partnership
The University of Toronto, Canada’s largest university, has announced a new partnership with Ripple to establish an independent XRP ledger validator aimed at supporting the crypto industry’s future.
The collaboration is part of Ripple’s University Blockchain Research Initiative (UBRI) in Canada, which has already invested over $2 million in the country’s leading educational institutions over a span of five years.
The University of Toronto joins other Canadian UBRI partners, including the University of Waterloo and Toronto Metropolitan University, in leveraging this program to advance blockchain and crypto technology research while also providing students with skills for careers in the crypto space.
Expansion into Canada
As part of its global growth strategy, Ripple is significantly expanding its presence in Canada, extending beyond the growth of its University Blockchain Research Initiative (UBRI).
After establishing an engineering hub in Toronto less than a year ago, the company is actively recruiting top local technical talent to strengthen its exceptional office in the region.
Since July of the previous year, Ripple has nearly doubled its initial hiring goals, resulting in a Toronto team of over 30 full-time employees.
Ripple’s focus on Canada comes amid regulatory developments pushing exchanges like Binance out of the country in mid-May.