Ripple is extending its University Blockchain Research Initiative (UBRI) into Europe, adding four new academic partners: Trinity College Dublin in Ireland, EPITA in France, IE University in Spain, and the University of Trento in Italy.
This move is part of UBRI's fifth-year milestone and represents an investment of over $11 million in 14 European universities.
This initiative aims to foster blockchain education and research in a region grappling with how to regulate and integrate this burgeoning technology.
Regulatory hurdles remain
The expansion into Europe coincides with legislative developments in the region. Specifically, the European Union is exploring its Market in Crypto Assets (MiCA) legislation, aimed at creating a more transparent and unified regulatory environment for crypto assets.
Eric van Miltenburg, SVP of Strategic Initiatives at Ripple, commented on the expansion, stating that education about blockchain technology is important for real-world applications. However, it should be noted that despite the potential for innovation, regulatory hurdles still present a challenging landscape for crypto projects in Europe.
Ripple's academic push
Ripple's UBRI, which was launched back in 2018, is a collaborative program that partners with global universities to advance research, technical development, and innovation in the realms of blockchain technology, cryptocurrency, and digital payments.
Aimed at nurturing the next generation of professionals in these fields, UBRI offers both financial support and subject-matter expertise to bolster academic research.