Canada’s largest university will work with Ripple

Canada’s largest university, the University of Toronto, has teamed up with Ripple, the company behind the XRP token. As part of this partnership, the huge university will become an independent validator for the XRP Ledger to support the next generation of the crypto industry.

Ripple teams up with universities

The partnership is part of Ripple’s University Blockchain Research Initiative (UBRI) inCanada. UBRI was established in June 2018, and since then Ripple has pledged more than $50 million to the initiative. To date, more than 17 universities around the world have partnered with the crypto powerhouse, and more than $47 million has been disbursed to all university partners so far. This year, the overall committed amount will also be significantly increased to a whopping $80 million.

The collaboration aims to support the growth of blockchain and crypto research while also providing students with the technical skills needed for a career in the crypto industry.

Other Canadian universities that have previously partnered with Ripple include the University of Waterloo and Toronto Metropolitan University.

Eric van Miltenburg, Senior Vice President of Strategic Initiatives at Ripple, said of the new partnership:

Canada, and Toronto in particular, is home to one of the most prestigious business and technical schools in the world and has become a global technology hub. Ripple continues to expand its presence in the region to support the next generation of crypto, blockchain, and Web3 leaders through strategic partnerships and funding for these universities.”

Important day in Ripple lawsuit

Ripple has been embroiled in a lengthy lawsuit with the American since the end of 2020 Securities and Exchange Commission (SEC) which claims XRP as unregistered securities, ie securities, are sold. The regulator has now labeled many more crypto coins as securities, which suddenly gives the case with Ripple even more value.

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Today is also a very important day in that respect as the ‘Hinman documents’ will be made public. These documents relate to former SEC official William Hinman’s 2018 speech in which he stated that ethereum (ETH) is not a security.

So keep an eye on the Ripple news to stay abreast of all developments regarding the lawsuit with the SEC.

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