Crypto solutions provider Ripple has announced plans to hire 50 engineers in Toronto, Canada. The crypto solution provider confirmed the plan in a Twitter Publish. Protocol intends to start recruiting shortly after the inauguration of its new office in the city.
In a short clip shared by Ripple CEO Brad Garlinghouse, he described Toronto as a community with “great engineering talent.” Brad revealed that choosing Toronto as Ripple’s engineering hub was emaciated from its inherent engineering talent. He added that the protocol was to recruit 50 people before the end of the year. Moreover, the CEO assured that the company will recruit 100 to 200 additional people in the coming years. According to Brad, talent is now becoming decentralized, just like assets.
Ripple software engineer Mohit Doshi analyzed the opportunities offered by the cryptographic solutions protocol. Doshi revealed that while Ripple’s engineering team isn’t huge, it’s still efficient. He added that user ideas and contributions have a significant impact on a large scale. According to Doshi, he participated in many back-to-back projects within his team.
Ripple aims to become the largest provider of blockchain and crypto solutions. More so, Ripples is accelerating its efforts to expand its operations in North America and other strategic locations around the world.
The prevailing legal tussle has not deterred the Protocol’s quest to expand its operations across the board with the SEC or market conditions. The two-year legal battle between Ripple and the US regulator has dragged on so far. It started in 2020 after the agency accused Ripple of selling investors $1.3 billion worth of unlicensed security.
Therefore, the SEC filed a lawsuit against Ripple and its executives. Protocol responded by challenging the agency’s powers to monitor its operations. He argued that XRP is never security and the illegal decision of the SEC to verify its activities.
The legal battle recently took on another dimension after a US court ordered the publication of the “Hinman speech” by the SEC. The court accused the SEC of concealing a speech document capable of helping Ripple’s defense. Now, it seems that the procedure is gradually shifting towards the protocol’s favor.
Despite the legal crisis, Ripple staked one billion XRP tokens in March. The company’s challenge is to fund project developers by leveraging its payments-focused ledger. The ledger worth about $790 million is to be spread over the next 10 to 20 years.
According to CoinMarketCap, the current XRP price of XRP stands at $0.376742. Likewise, it currently enjoys a 24-hour trading volume of $1,315,656,162.
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