The University of Toronto in Canada has collaborated with Ripple, a blockchain technology company. The partnership aims to support research and education in the cryptocurrency industry in Canada. As part of the partnership, an independent validator on the XRP blockchain will be created to process payments.

Ripple has already invested over $2 million in Canadian universities over a span of five years. The partnership seeks to provide opportunities for students to acquire technical skills related to cryptocurrencies.

The University of Toronto joins its partners in the UBRI initiative in Canada, which include the University of Waterloo and the University of Toronto Urban. The UBRI initiative began in June 2018 and aims to support research efforts and partnerships with universities around the world.

This partnership comes amidst increased regulation of the cryptocurrency industry in the United States, prompting some companies to seek opportunities in other regions.

Coinbase has praised Canada’s approach to regulating the cryptocurrency industry. Ripple emphasizes the importance of educational opportunities and talent development for the long-term success of the industry.