Despite the ongoing uncertainty in the cryptocurrency industry and the prolonged bear market, Ripple is among the companies that vowed to increase their headcount by the end of the year.
However, its homeland – the United States – is not a destination they will focus on due to the regulatory issues with the US SEC. Instead, the firm will expand its presence in Singapore, the United Arab Emirates, the United Kingdom, Switzerland, and more. There is one country, though, that stands at the center of the hiring efforts, and that is Canada.
Ripple’s Open Roles
According to Ripple’s official website, the company is looking to hire 55 people in fields like Corporate Development, Engineering, Business Development, Finance, Global Operations, Information Technology, Legal, Marketing, and others.
19 of those roles are for people based in Canada. The capital of the UK – London – ranks second with 16 open positions. Despite the regulatory problems in the US, Ripple also plans to increase its headcount in its homeland. New York City, San Francisco, and Miami are some of the areas of focus.
The firm’s CEO – Brad Garlinghouse – previously stated that more than 80% of the hiring spree this year will happen in nations where “governments are partnering with the industry, and you’re seeing leadership, they’re providing clear rules, and you’re seeing growth.” He pointed out Hong Kong, Dubai, the UK, and Singapore as such regions.
The Ripple v SEC Lawsuit is a Major Factor
It is safe to assume that one significant reason behind Ripple’s decision to strengthen its presence globally instead of in the US is the ongoing legal battle with America’s securities regulator.
The blockchain enterprise secured a landmark but yet a partial win in mid-July when the court determined that its sale of XRP did not constitute an offer of investment contracts. Expectedly, this acted as a catalyst for XRP’s price and the entire crypto market.
Still, the battle is far over, with the SEC formally appealing the decision. As CryptoPotato recently reported, the lengthy lawsuit has caused severe financial damage to Ripple. The latter has so far spent approximately $200 million to persist the fight.
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