The University of Toronto, Canada's largest higher education institution by enrollment, is partnering with Ripple to establish an independent XRP ledger validator that will primarily process payments, marking a significant step in fostering the upcoming wave of the crypto industry.
This development is a part of Ripple's University Blockchain Research Initiative (UBRI) in Canada. Ripple has already invested over $2 million in top-tier Canadian universities and colleges over a span of five years under this initiative, as per the press release.
The latest UBRI partnership boosts a program that already supports pivotal blockchain and crypto technology research in Canada, simultaneously equipping students with technical skills essential for a crypto-oriented career," as per the official statement. The University of Toronto joins the existing Canadian UBRI partners, which include the University of Waterloo and Toronto Metropolitan University.
Ripple unveiled the UBRI back in June 2018, pledging more than $50 million and forming alliances with 17 global universities. So far, it has distributed over $47 million to its university partners worldwide, upping its commitment to $80 million this year, a spokesperson disclosed.
This initiative arrives at a time when the U.S. is intensifying regulations on the crypto industry, causing some firms to shift to other regions. Interestingly, Coinbase, recently under the SEC's radar alongside competitor Binance, commended Canada's approach to crypto industry regulations.
The latest UBRI partnership boosts a program that already supports pivotal blockchain and crypto technology research in Canada, simultaneously equipping students with technical skills essential for a crypto-oriented career," as per the official statement. The University of Toronto joins the existing Canadian UBRI partners, which include the University of Waterloo and Toronto Metropolitan University.
Ripple unveiled the UBRI back in June 2018, pledging more than $50 million and forming alliances with 17 global universities. So far, it has distributed over $47 million to its university partners worldwide, upping its commitment to $80 million this year, a spokesperson disclosed.
This initiative arrives at a time when the U.S. is intensifying regulations on the crypto industry, causing some firms to shift to other regions. Interestingly, Coinbase, recently under the SEC's radar alongside competitor Binance, commended Canada's approach to crypto industry regulations.
