Paul Zalai, the Director of the Australian Freight and Trade Alliance (FTA), recently sat down for an interview, during which he subtly hinted at an imminent partnership with Ripple. This renowned San Francisco-based fintech company behind XRP has earned its reputation for pioneering blockchain-driven payment solutions.
In a conversation with La Chang on the YouTube channel TGL (Think Global Logistics), Zalai openly acknowledged his limited understanding of blockchain technology. However, he revealed that his 32-year-old son was actively involved with Ripple, having invested in the company’s shares. He was probably referring to an investment in XRP.
The FTA and Ripple Collaboration
Zalai also shared a significant detail about Ripple’s earlier approach to the FTA. It happened before Judge Torres’s ruling in July when the lawsuit was still in limbo, and XRP’s future was uncertain. The regulatory uncertainties caused the FTA to defer any potential collaboration until Ripple could resolve its legal matters. With Ripple subsequently emerging victorious in the U.S. courts, the fintech giant restarted discussions with the FTA.
Under Zalai’s guidance, the FTA is now considering Ripple’s offer. According to Zalai, the FTA might promote Ripple’s product to its members. Zalai praised Ripple’s technology, emphasizing its capability to facilitate real-time cross-border payments while maintaining robust security protocols.
During an industry event in Australia, Zalai observed significant interest from major banks in Ripple’s solutions. For the benefits of the partnership, Zalai stated, “But how that translates to meaningful solutions for our members, we will understand that in a bit more of time.”
As a leading institution in Australia’s international supply chain sector, the FTA represents a diverse group of stakeholders. These include importers and logistics service providers, and the FTA has a core mission focused on enhancing profitability for Australian trade entities. The FTA’s vision is aimed at optimizing biosecurity and logistics efficiency, and it plays an important role in shaping trade in Australia.
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Read Also: Ripple Sues UK Money Transfer Service Over Unpaid XRP Invoices: Details
The Future of this Partnership
Despite the legal challenges, Ripple has come out with regulatory clarity for XRP and can continue building its name in the global payment ecosystem. Regarding the future of a potential Ripple-FTA collaboration, Zalai outlined the initial steps to be taken. Ripple dispatched a group of representatives from Singapore who conducted a presentation at the Waterfront of Sydney Harbour.
Zalai stated that there would be follow-up and information sessions. He also stated that the FTA will let Ripple engage with its members, ensuring that FTA members can ask questions and explore potential avenues for collaboration. Although an official partnership has not been announced, Zalai has shown interest, and the FTA is sure to follow.
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