After announcing the launch of a new office and plans to employ 50 engineers in Toronto, Canada, in its statement on June 22, fintech and blockchain company Ripple Labs recently shared its intention to hire hundreds of people over the next few years.
Indeed, in a video of the branch opening published on Ripple’s Twitter page on July 31, the company CEO Brad Garlinghouse described Toronto as a community with “excellent engineering talent” which is why the company chose it as the location for its engineering hub.
He added, Ripple will hire 50 new people in its Toronto office by the end of the year, as well as an additional 100 to 200 in the years to follow:
“I think you probably all are aware we plan to hire 50 people this year, with an intent of adding maybe 100 or 200 in the years ahead. (…) It isn’t just around the decentralization of assets. Talent is becoming decentralized.”
Mohit Doshi, a software engineer at Ripple, explained the opportunities offered by the blockchain company:
“Our engineering teams aren’t gigantic, but there’s still enough people where we’re able to work within highly effective teams and your ideas and contributions have a significant impact at scale. I’ve had opportunities within my team to contribute to multiple projects simultaneously which is almost unheard of.”
Ripple’s expansion plans despite challenges
As Finbold reported in late June, Ripple announced the opening of its Toronto office with plans for it to become an important technology hub in terms of blockchain and cryptocurrency solutions, as well as make it easier for the company to expand its operations in North America and other locations around the world.
This is just one part of Ripple’s expansion efforts, despite the ongoing crypto winter and an expensive legal battle it has been waging against the United States Securities and Exchange Commission (SEC) since December 2020.
In mid-March, the company pledged one billion XRP tokens as a way of supporting project developers building on its payment-focused ledger, which at the time was worth around $790 million, to be dispersed over the following 10 to 20 years.