Ripple expands Canadian engineering activities with U of Toronto XRP validator

The University of Toronto has announced that it will be launching its own XRP Ledger (XRPL) validator, as part of Ripple’s University Blockchain Research Initiative (UBRI), on June 12th. This partnership will aid the university in its research into blockchain and crypto technology.

The collaboration will also promote Ripple’s XRPL Campus Ambassador program, which is designed to amplify the influence of college students by teaching them about crypto and how to use the XRPL. University of Toronto professor Andreas Veneris commented:

The University of Toronto, the largest university in Canada by enrollment, is now part of Ripple’s University Blockchain Research Initiative (UBRI), alongside the University of Waterloo and Toronto Metropolitan University. Over the last five years, Ripple has invested $2 million in research in Canada. The UBRI has provided support to more than 45 universities in 20 countries, as stated on its website.

In July 2022, Ripple established an office in Toronto to serve as a center for engineering. This office has a team of more than 30 people and takes on summer interns.

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Ripple has been embroiled in a much-publicized legal dispute with the US Securities and Exchange Commission, but Canada has its own set of issues. In February, the nation implemented new regulations for cryptocurrency trading, which have caused a stir in the domestic crypto market, causing dYdX, Paxos, Binance, and Bybit to shut down their Canadian operations. On the other hand, Canadian authorities have recently approved several crypto exchange-traded funds.

Ripple is strongly linked to the XRP Ledger, which is responsible for the issuance of the XRP (XRP) token.

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