On Friday (June 24), digital asset XRP seems to be having a having a great day.
According to data by TradingView, on crypto exchange Bitstamp, at 9:10 a.m. UTC on June 24, the XRP price hit $0.3853, which is the highest level it has been since June 11.
Currently (as of 9:33 a.m. UTC on June 24), XRP is trading around $0.3808, up 16.41% in the past 24-hour period.
On Wednesday (June 22), FinTech firm Ripple announced the opening of its first office in Canada, which will “serve as a key engineering hub.”
This office, which is located in Toronto, Ontario, will at first have 50 engineers, but the aim is to “expand to hundreds of blockchain software engineers including applied machine learning scientists, data scientists, and product managers.”
Brad Garlinghouse, CEO of Ripple, had this to say:
“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. 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.“
Ripple’s blog post pointed out that in the past one year period, Ripple has “opened new offices in key cities including Miami and Dublin” and intends to “hire hundreds of people globally in 2022.”
Devraj Varadhan, SVP of Engineering at Ripple, added:
“At Ripple, we are a team building breakthrough crypto solutions to unlock greater economic opportunities for everyone, everywhere, and that creates an exciting atmosphere. We are excited to tap into Toronto’s technical talent pool and add builders to address the unmet customer needs on behalf of global customers – our teams here will play a key role in driving Ripple’s innovations, ranging from blockchain protocol development and decentralized applications to machine learning and payment solutions.”
And John Tory, Mayor of the City of Toronto, stated:
“I’m thrilled that Ripple is putting down roots in Toronto where we know the company will be able to benefit from the highly skilled technical talent, booming ecosystem, and competitive economic advantages the Region offers. Ripple’s globally-renowned, innovative technology, and first-mover attitude will be a perfect fit for the diverse, entrepreneurial, and committed spirit of Toronto.”