Australian Trade Alliance Hints at Potential Partnership with Ripple
Date: 2023-10-07 Author: Dima Zakharov Categories: CRYPTO PAYMENTS
Australian Trade Alliance's Interest in Ripple Partnership
In a recent interview, Paul Zalai, the CEO of the Australian company Think Global Logistics (TGL), inquired about his firm's interest in Ripple Labs. During the interview, Zalai admitted that his knowledge of blockchain technology is limited. However, he pointed out that his 32-year-old son is more well-versed in the blockchain industry and invests in Ripple's native cryptocurrency, XRP.
Furthermore, Zalai revealed that Ripple had once approached FTA with a proposal for collaboration, but the firm declined due to the SEC's legal case against Ripple. According to the Director, FTA requested Ripple to reconsider once they resolved their issues with the SEC.
FTA Reevaluates the Ripple Partnership Proposal
However, following Ripple's partial triumph over the U.S. Securities and Exchange Commission (SEC), FTA has reconsidered the partnership agreement with Ripple. To recall, the SEC filed a lawsuit against Ripple for the sale and distribution of unregistered securities within the United States.
Ripple's victory stemmed from the fact that Judge Torres ruled that Ripple's sale of its cryptocurrency, XRP, to retail customers does not classify it as a security. According to Zalai, FTA revisited Ripple's proposal because the crypto firm achieved its first legal victory over the SEC in court.
Notably, the Director mentioned that there is growing interest among major banks in Ripple's efforts to enhance cross-border transactions' efficiency. It's worth mentioning that Ripple is making all efforts to expand its business despite the ongoing legal dispute.
Fintech Company's Pursuit of Expansion
The fintech company has already obtained a major payment institution (MPI) license in Singapore. An upcoming partnership with FTA could be a significant milestone in their expansion plans.
In a recent interview, Paul Zalai, the CEO of the Australian company Think Global Logistics (TGL), inquired about his firm's interest in Ripple Labs. During the interview, Zalai admitted that his knowledge of blockchain technology is limited. However, he pointed out that his 32-year-old son is more well-versed in the blockchain industry and invests in Ripple's native cryptocurrency, XRP.
Furthermore, Zalai revealed that Ripple had once approached FTA with a proposal for collaboration, but the firm declined due to the SEC's legal case against Ripple. According to the Director, FTA requested Ripple to reconsider once they resolved their issues with the SEC.
FTA Reevaluates the Ripple Partnership Proposal
However, following Ripple's partial triumph over the U.S. Securities and Exchange Commission (SEC), FTA has reconsidered the partnership agreement with Ripple. To recall, the SEC filed a lawsuit against Ripple for the sale and distribution of unregistered securities within the United States.
Ripple's victory stemmed from the fact that Judge Torres ruled that Ripple's sale of its cryptocurrency, XRP, to retail customers does not classify it as a security. According to Zalai, FTA revisited Ripple's proposal because the crypto firm achieved its first legal victory over the SEC in court.
Notably, the Director mentioned that there is growing interest among major banks in Ripple's efforts to enhance cross-border transactions' efficiency. It's worth mentioning that Ripple is making all efforts to expand its business despite the ongoing legal dispute.
Fintech Company's Pursuit of Expansion
The fintech company has already obtained a major payment institution (MPI) license in Singapore. An upcoming partnership with FTA could be a significant milestone in their expansion plans.
