California-based fintech company Ripple Labs has announced that its University Blockchain Research Initiative (UBRI), established in 2018, has supported more than 45 university partnerships in 20 countries and funded over 1,000 research projects. The initiative aims to foster academic research, technical development, and innovation in blockchain, cryptography, fintech, and digital assets.
UBRI initially committed over $50 million in funding to provide financial and technical resources to research institutions and universities worldwide. This support has led to the development of curricula, collaborative industry research, and the exploration of blockchain technology applications.
Since its inception, UBRI has facilitated the introduction or expansion of up to 345 courses, highlighting its significant impact. Starting with 17 universities in 2018, the initiative quickly expanded, adding 11 more institutions in early 2019, including renowned names like Carnegie Mellon University, the University of Kansas, the National University of Singapore, and Cornell University.
Ripple Labs has continued to expand the UBRI program despite facing litigation from the United States Securities and Exchange Commission (SEC) in December 2020. The company has forged new collaborations and demonstrated its commitment to the academic community.
Recently, Ripple’s native token XRP has experienced a bullish trend in the wider cryptocurrency sector. Ripple’s Chief Legal Officer Stuart Alderoty expressed increased confidence in the company’s chances of winning the ongoing legal case, following a recent favorable ruling.
The XRP Ledger, a decentralized open-source blockchain platform designed for efficient cross-border transactions, has also reached the milestone of 79 million ledgers, indicating growing adoption. As Ripple’s UBRI program continues to foster innovation and research in blockchain and related fields, the company further establishes itself as a major player in the global fintech landscape.