Ripple has opened its first office in Canada, according to an announcement Spread Yesterday, Wednesday.

Ripple’s new Toronto office will serve as the company’s main engineering hub.

Garlinghouse says the country’s most populous city has plenty of talent.

Ripple is going on a hiring spree in Toronto, with the goal of hiring “hundreds” of blockchain software engineers for the long-term.

Garlinghouse said the company will continue to hire, in sharp contrast to other major crypto companies, such as Coinbase, which have significantly reduced their workforce recently.

It is worth noting that Ripple maintains a “large” cash balance, which will enable the company to overcome the ongoing crisis.

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Garlinghouse also told in his statement that many talented engineers are leaving traditional finance to enter cryptocurrency.

John Tory, the mayor of Toronto, interacted with the opening of the Ripple office and stated:

Ripple will be a perfect fit for the city, because of its innovative technology.

In 2021, Ripple also opened offices in Miami and Dubai.

Prior to opening its first office in Canada, Ripple had already collaborated with several Canadian universities as part of the University Blockchain Research Initiative (UBRI) program.

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