The Chief executive officer of Ripple fintech firm talked about cryptocurrencies role & opportunities during the event of a new office opening in Canada.
Ripple is San Francisco-based Fintech firm, which is known to provide crypto-backed payment services for big companies without any restriction on operational location. However, Ripple’s XRP ledger is a blockchain technology but its backend operations are totally under the hand of the Ripple firm. In short, we can say Ripple operates its operations on centralized blockchain technology.
Recently Ripple announced the opening of its new office in Canada. The main goal of the new office in Canada is to create a Innovations supportive “key engineering hub.” This office is situated in Toronto, Ontario. Initially, the office will have 50 engineers and in future Ripple will aim “expand to hundreds of blockchain software engineers including applied machine learning scientists, data scientists, and product managers.”
The chief executive officer of Ripple, Brad Garlinghouse, shared his happiness on the launch of the new office and said that there are huge opportunities in the crypto & blockchain industry to solve real-life problems.
Ripple’s CEO emphasized the need of crypto & blockchain technology in the banking-related tech industry as a key role.
“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.”
According to Ripple’s CEO Crypto is only the thing that is trying to push the traditional banking industry to this innovative digital level.
Brad said that they will continuously work to bring more innovative works to this tech industry and in this way they will continuously expand their business.
Ripple vs SEC lawsuit
In the present era of the crypto and blockchain industry, Ripple is at that level where it is proving that digital assets can be used at a better level where banking services can be provided with a very high-efficiency rate but the current situation is not much good for this company to survive in the present regulatory framework.
Since December 2020, Ripple is fighting against the US Securities body for its native token XRP.
According to the US SEC agency, Ripple’s XRP token is a security and it is Unregistered with the SEC agency, so the company violated securities law by selling its more than $1 billion worth of XRP Token publicly.