Ripple Plans To Hire Hundreds Of People At Its New Toronto Operation

Ripple Labs, a fintech and blockchain firm, has revealed its desire to hire hundreds of people over the next few years after announcing the opening of a new office and intentions to employ 50 engineers in Toronto, Canada, in a statement on June 22.

In fact, Ripple CEO Brad Garlinghouse stated that the business chose Toronto as the location for its engineering hub in a video of the branch opening that was posted on the company’s Twitter page on July 31. Garlinghouse called Toronto a community with “great engineering expertise.”

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:

“I think you probably all are aware we plan to hire 50 people this year, with an intent of adding maybe 100 or 200 in the years ahead. (…) It isn’t just around the decentralization of assets. Talent is becoming decentralized.”

Mohit Doshi, a software engineer at Ripple, explained the opportunities offered by the blockchain company:

“Our engineering teams aren’t gigantic, but there’s still enough people where we’re able to work within highly effective teams and your ideas and contributions have a significant impact at scale. I’ve had opportunities within my team to contribute to multiple projects simultaneously which is almost unheard of.”

Despite difficulties, Ripple wants to expand

With the intention of making Toronto a major technology hub for blockchain and cryptocurrency solutions as well as making it simpler for the firm to expand its operations in the region and elsewhere around the world, Ripple recently announced the launch of its Toronto office.

Despite the prolonged crypto winter and a costly legal battle it has been engaged in with the United States Securities and Exchange Commission (SEC) since December 2020, this is just one aspect of Ripple’s expansion ambitions.

The business pledged one billion XRP tokens in mid-March, worth approximately $790 million at the time, to support project developers constructing on its payment-focused ledger. The tokens will be distributed over the ensuing 10 to 20 years.

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