Back to the list

How Ripple takes its expansion while opening an office in Canada?

www.thecoinrepublic.com 23 June 2022 13:30, UTC
Reading time: ~2 m

Looking to expand its prospectus and field of operations, blockchain company is looking towards opening new offices on international locations. 

In an official announcement made on Wednesday, prominent blockchain company Ripple (XRP) stated that it has opened its very first office in Canada. This move came in the wake of the company’s aspirations to move across different locations to make its reach to its users worldwide to serve them best facilities possible. 

Co-creator and CEO of Ripple network, Brad Garlinghouse on this instance said that the new office of crypto payment network firm in Toronto will serve as its vital engineering hub. Rippe CEO says that most of the population in Canada has a huge amount of talent. Ripple network will continue to hire a significant number of people in Toronto that will include more than hundreds of blockchain software engineers in upcoming times. 

Further Garlinghouse also said that Ripple would also continue to hire people that would however seem to be as quite opposite to other major cryptocurrency firms including Coinbase. These companies have seen their employees lay off drastically in the past several days. 

Currently Ripple has significant cash reserves holdings that will make it easy for the company to take such steps towards expansion despite the ongoing market crash. Garinghouse in his statements also said that looking at the advantages and opportunities in cryptocurrency space, so many talented engineers are changing their domains from traditional finance to join the crypto industry. 

Mayor of Toronto City, John Tory on the announcement of Ripple opening an office in the region said that Ripple and Toronto city will act as a perfect fit for each other while he was praising the innovative technology of the company. 

Last year, Ripple had also opened its offices in Miami and Dubai. Before going to open its first office in the country, Ripple had started collaborations with some universities in Canada as part of a program dubbed as University Blockchain Research Initiative (UBRI). 

Ripple had been continuously moving to fulfill its growth aspirations by taking bold moves despite the situation that it’s going through. Even though payment protocol network system’s facing a lawsuit from the United States Security and Exchange Commission is still going on in the court. The decision is long awaited and chances are Ripple could spot a win over the regulator. 

Back to the list