Ripple in Preliminary Talks with Australian Freight & Trade Alliance for Future Partnership
Paul Zalai, Director of the Australian Freight & Trade Alliance (FTA), disclosed the possibility of a future partnership with San Francisco-based fintech firm Ripple during an interview with TLG.
The news comes at an opportune moment for Ripple, which has been looking to expand its global footprint, especially following a favorable outcome in its legal battle with the US Securities and Exchange Commission (SEC).
Meanwhile, the Australian Freight & Trade Alliance continues to be a dominant player in Australia's international supply chain sector, making this potential partnership one to watch.
Paul Zalai admitted his limited understanding of blockchain technology. However, he revealed that his son, more familiar with cryptocurrencies, had invested in Ripple's digital asset XRP.
"All this blockchain stuff, I don’t get it. I admit it. But I am trying to understand. My 32-year-old son who is a bit more savvy to all this stuff, bought some shares in Ripple and he doesn’t gamble with his money easily," Zalai said.
Zalai also mentioned that Ripple had approached the FTA while embroiled in a legal battle with the SEC. The FTA had initially declined any talks, advising Ripple to return once there was regulatory clarity.
"I am not an expert on blockchain but I understand that Ripple approached us some time ago, but at the time they were fighting a legal battle in the US. And our position to them was, come back once that is sorted out," Zalai commented.
The Australian Freight & Trade Alliance is a leading organization in Australia's international supply chain sector. It represents various stakeholders, from importers to logistics service providers. The FTA focuses on enhancing profitability for Australia's trade entities and seeks to
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