Ripple Joins Forces with Canada’s Leading University to Launch XRP Validator
In an innovative collaboration, Ripple has teamed up with the University of Toronto, the largest educational institution in Canada, to establish an independent XRP ledger validator. This partnership is a significant stride in supporting the future generation of the cryptocurrency industry.
The initiative is part of Ripple’s University Blockchain Research Initiative (UBRI) in Canada, an endeavor that has already injected over $2 million into the country’s prominent universities and colleges over the course of five years. This new collaboration not only furthers blockchain and crypto technology research in Canada but also provides students with invaluable opportunities to acquire technical expertise for a career in the crypto realm.
The University of Toronto joins the ranks of existing Canadian UBRI partners, including the University of Waterloo and Toronto Metropolitan University, strengthening the network of institutions committed to advancing blockchain education and research.
Ripple introduced the UBRI in 2018, pledging over $50 million to the initiative and forming partnerships with 17 universities worldwide. To date, the company has distributed more than $47 million to its university partners across the globe. In 2023, Ripple has further bolstered its commitment by increasing the funding to $80 million.
At a time when the United States is tightening regulations on the cryptocurrency industry, some companies are seeking more favorable environments elsewhere. Notably, Coinbase, which faced legal action from the SEC alongside its competitor Binance, has commended Canada’s approach to regulating cryptocurrencies. This collaboration between Ripple and the University of Toronto serves as a testament to Canada’s progressive stance in fostering innovation and embracing the potential of cryptocurrencies.
