Indeed, in a video of the branch opening published on Ripple’s Twitter page on July 31, the company CEO Brad Garlinghouse described Toronto as a community with “excellent engineering talent” which is why the company chose it as the location for its engineering hub. He added, Ripple will hire 50 new people in its Toronto office by the end of the year, as well as an additional 100 to 200 in the years to follow: Mohit Doshi, a software engineer at Ripple, explained the opportunities offered by the blockchain company:
Ripple’s expansion plans despite challenges
As Finbold reported in late June, Ripple announced the opening of its Toronto office with plans for it to become an important technology hub in terms of blockchain and cryptocurrency solutions, as well as make it easier for the company to expand its operations in North America and other locations around the world. This is just one part of Ripple’s expansion efforts, despite the ongoing crypto winter and an expensive legal battle it has been waging against the United States Securities and Exchange Commission (SEC) since December 2020. In mid-March, the company pledged one billion XRP tokens as a way of supporting project developers building on its payment-focused ledger, which at the time was worth around $790 million, to be dispersed over the following 10 to 20 years.
