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Ripple plans to recruit 50 engineers in Toronto

Ripple CEO
Ripple CEO

Crypto solutions provider Ripple announced its intention to hire 50 engineers in Toronto, Canada. The crypto solution provider confirmed the plan in a Twitter post. The protocol intends to carry out the recruitment shortly after unveiling its new office in the city.

In a short clip shared by Ripple’s CEO, Brad Garlinghouse, he described Toronto as a community with “excellent engineering talent.”  Brad revealed that the choice of Toronto as the engineering hub of Ripple emaciated from its inherent engineering talent. He added that the protocol intends to recruit 50 persons before the end of the year. Furthermore, the CEO assured that the company would recruit an additional 100 to 200 persons in subsequent years. According to Brad, talents are now becoming decentralized, just like assets.  

Ripple software engineer, Mohit Doshi, analyzed the opportunities availed by the crypto solutions protocol. Doshi revealed that even though the engineering team of Ripple is not huge, it is still effective. He further said that the ideas and contributions of users have a significant impact at scale. According to Doshi, he has participated in numerous consecutive projects within his team.

Ripple aims to emerge as the largest provider of blockchain and crypto solutions. More so, Ripples is accelerating efforts toward the expansion of its operations in North America and other strategic locations across the globe.

The prevailing legal tussle has not deterred the protocol’s quest to expand its operations across the board with SEC or market conditions. The two-year legal battle between Ripple and U.S regulator has lingered to date. It started in 2020 after the agency indicted Ripple of selling investors $1.3 billion of unlicensed security. 

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Consequently,  the SEC filed a lawsuit against Ripple and its executives. The protocol responded by challenging the agency’s powers to trail its operations. It argued that XRP is never security and the SEC’s unlawful move to check its activities. 

The legal battle took another dimension recently after a U.S court ordered the release of the “Hinman speech” by the SEC. The court indicted the SEC for covering up a speech document capable of aiding Ripple’s defense. Now, it seems the proceeding is gradually swinging towards favoring the protocol.

Despite the legal crisis, Ripple in March staked one billion XRP tokens. The firm’s stake is to fund project developers building on its payment-focused ledger. The ledger worth about $790 million is to be allocated over the next 10 to 20 years.

According to CoinMarketCap, the current XRP price of XRP stands at $0.376742. Similarly, it currently enjoys a 24-hour trading volume of $1,315,656,162.

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