The leading enterprise blockchain and crypto solutions provider, Ripple, announced today a new office in Toronto that serves as a critical engineering hub. Ripple’s new office will be its first in Canada, support its continued expansion in North America and beyond.

Initial hires are expected to be 50 engineers in Toronto, but the company plans to hire hundreds of blockchain software engineers, including applied machine learning scientists, data scientists, and product managers.

Brad Garlinghouse, CEO of Ripple said:

“Crypto and blockchain present an incredible opportunity for engineers to tackle difficult problems, with the potential for these solutions to impact the movement of value around the world,”

Ripple plans to capitalize on blockchain technology’s increasing popularity by hiring top tech talent and expanding its presence globally. Brad Garlinghouse added:

 “Nearly every financial institution is coming up with its crypto strategy to take advantage of this technology that will underpin our future global financial systems. Crypto is one of the most thrilling industries to work in, so it’s no surprise that talent is leaving tech incumbents and traditional finance to enter this space. We are continuing to scale and invest in our business by expanding our presence globally with our first office in Toronto.” 

The Ripple blockchain research initiative (UBRI) has already taken place in the region, and they are working with institutions, including the University of Waterloo and Toronto Metropolitan University.

The company plans to expand across the globe, and it is already opening offices in Miami, Florida, and Dublin, Ireland, last year. This year, Ripple and FTX wanted to invest in acquisitions to drive their growth.