FTA Director Teases Ripple Partnership
In a recent interview, Paul Zalai, the Director of the Australian Freight & Trade Alliance (FTA), hinted at the possibility of collaborating with Ripple, a San Francisco-based fintech company known for its blockchain-based payment solutions.
Zalai admitted that he doesn’t fully understand blockchain technology, but his son does. He mentioned that his son had invested in Ripple (XRP) and spoke highly of the company’s cautious approach to investing.
Ripple’s Previous Approach to FTA
Zalai also revealed that Ripple Labs had approached the FTA in the past, but at that time, they were involved in a legal battle with the US Securities and Exchange Commission (SEC). The FTA advised Ripple to return once the legal issues were resolved. Now that Ripple has achieved a positive outcome in their court case, they have approached the FTA again.
Zalai stated that the FTA will now evaluate Ripple’s offerings and may consider promoting their product to their members. He praised Ripple’s technology and highlighted the interest shown by major banks during a meeting in Australia.
About the FTA and Ripple
The FTA is a leading organization in Australia’s international supply chain sector, representing various stakeholders involved in trade. Their goal is to enhance profitability for Australian trade entities and improve efficiency in biosecurity and logistics.
Ripple, despite its legal challenges with the SEC, has been making progress and recently obtained a full license to offer digital payment services in Singapore.
What’s Next?
Regarding a potential partnership between Ripple and the FTA, Zalai mentioned that there will be information sessions where members can engage with Ripple representatives and ask questions. The next steps will depend on these interactions.
While an official partnership has not been announced yet, Zalai’s comments demonstrate the growing interest in Ripple’s technology for facilitating efficient cross-border transactions.
Hot Take: Ripple Expanding its Reach
Ripple continues to expand its presence in the global payment ecosystem, despite its legal challenges. The potential collaboration with the FTA is a significant development that could further establish Ripple as a leader in blockchain-based payment solutions. With the FTA’s influential position in Australia’s trade landscape, this partnership has the potential to drive adoption of Ripple’s technology among importers and logistics service providers. It will be interesting to see how this collaboration unfolds and whether it leads to meaningful solutions for FTA members and the wider trade community.
Source: YouTube
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