Ripple Labs has opened a new office in Toronto, Canada with the intention of creating an engineering hub to drive innovation by recruiting top engineering talent in the area. This will be Ripple's first office in Canada as they continue to expand across North America.
The company behind the XRP XRP coin made an announcement on Wednesday. According to the announcement, Ripple plans to hire 50 engineers with the aim of adding hundreds of engineers to its office, from data scientists and machine learning scientists to product managers.
As the technology becomes more mainstream, Ripple plans to hire top tech talent and expand its presence across the globe. Brad Garlinghouse, CEO and co-founder, continued to say:
Nearly every financial institution is coming up with a strategy to take advantage of this technology that will underpin our future financial systems. Talent is leaving tech incumbents and traditional finance to enter the space because of the most exciting industries in which it is so exciting to work in. We are able to expand our presence globally with our first office in Toronto, and we are continuing to invest in our business. Ripple already has a University Blockchain Research Initiative UBRI in the region and they are working with universities and colleges such as the University of Waterloo and Toronto Metropolitan University.
Ripple plans to expand across the globe and has opened offices in Miami Florida and Dublin, Ireland last year. Earlier this year, Ripple and FTX were on the lookout for acquisitions to drive their growth. The firm also announced an NFT incubation program in March.