The University of Toronto, Canada’s largest university by enrollment, has announced its plans to launch an independent XRP ledger validator in collaboration with Ripple. This move comes as part of Ripple’s University Blockchain Research Initiative (UBRI) in Canada, through which the company has invested over $2 million in top Canadian universities and colleges over the past five years.
The newest UBRI partnership aims to support blockchain and crypto technology research in Canada while providing students with opportunities to develop technical skills for a crypto-native career. The University of Toronto joins existing Canadian UBRI partners, the University of Waterloo and Toronto Metropolitan University.
Since its inception in June 2018, Ripple’s UBRI has committed over $50 million to partnering with 17 universities worldwide. According to a spokesperson, the company has distributed more than $47 million to its global university partners and upped its commitment to $80 million this year.
The expansion of UBRI comes at a critical time for the crypto industry, as the United States increasingly cracks down on crypto-related activities, driving some companies to seek friendlier regulatory climates in other regions. For example, Coinbase, a recent target of SEC lawsuits alongside rival Binance, has praised Canada’s approach to regulating the crypto industry.
Eric van Miltenburg, SVP of strategic initiatives at Ripple, considers the development of evergreen educational opportunities and the cultivation of a pipeline of talent essential to achieving widespread adoption and securing the long-term success of the crypto industry. As more projects and companies look to establish themselves outside the U.S., Canada, particularly Toronto, is quickly becoming a global technology hub and home to some of the world’s most prestigious business and technical schools.
Ripple’s continued expansion in the region will support the next generation of crypto, blockchain, and Web3 leaders through essential partnerships and funding. By collaborating with Canadian universities and colleges, Ripple is not only investing in the future of the blockchain and cryptocurrency sectors but also upskilling individuals to meet the growing demand for professionals in these fields. While there is a certain level of skepticism surrounding cryptocurrencies, the commitment of major industry players like Ripple to enhance understanding and encourage research is a hopeful sign that solutions may be on the horizon.
Source: Coindesk
