The University of Toronto, Canada’s largest university, has announced its intention to create an independent validator for the XRP ledger, in collaboration under the University of Ripple’s (UBRI) Blockchain Research Initiative in Canada.
This initiative aims to fuel the growth of the cryptocurrency industry and support developments in payment processing technology.
The beginning of a new partnership
The University of Toronto, Canada’s largest university, has announced a new partnership with Ripple to create an independent XRP ledger validator aimed at powering the future of the crypto industry.
This collaboration is part of Ripple’s University Blockchain Research Initiative (UBRI) in Canada, which has already invested more than $2 million in the country’s leading educational institutions over 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 technology and cryptography research while also providing students with the skills for careers in cryptography.
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Expansion into Canada
As part of its global growth strategy, Ripple is significantly expanding its presence in Canada, beyond the growth of the University Blockchain Research Initiative (UBRI).
Having established an engineering center in Toronto less than a year ago, the company is actively recruiting the best 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 more than 30 full-time employees.
Ripple’s focus on Canada comes amid regulatory developments that pushed exchanges like Binance out of the country in mid-May.
