The Director of the Australian Freight and Trade Alliance (FTA), Paul Zalai, hinted at the possible partnership between his firm and Ripple Lab, a blockchain firm in San Francisco. This development follows Judge Torres’ denial of the SEC’s interlocutory appeal opposing the initial ruling in favor of Ripple.
Zalai Hints at Possible Collaboration Deal with Ripple
In a recent interview, the CEO of Think Global Logistics (TGL) La Chang, an Australia-based company, interviewed Zalai on his firm’s interest in Ripple Lab. During the interview, Zalai said his knowledge of blockchain is limited. But he noted that his 32-year-old son is more enlightened about the blockchain industry and invests in Ripple’s native coin (XRP).
Furthermore, Zalai noted that Ripple once approached FTA for a collaboration, but the firm rejected the offer because of the SEC’s case with Ripple. According to the director, the FTA asked Ripple to return when it sorts out with the SEC.
FTA Set to Reconsider Ripple’s Partnership Offer
However, following Ripple’s partial triumph over the United States Securities and Exchange Commission (SEC), FTA reconsidered Ripple’s partnership deal. Recall that the U.S. SEC filed a lawsuit against Ripple for offering and selling unregistered securities in the United States.
Ripple’s victory emerged as Judge Torres ruled that Ripple selling its coin (XRP) to retail customers does not make it a security. According to Zalai, FTA reviewed Ripple’s offer as the crypto firm secured its first defeat against SEC in the court.
Notably, the director shared that there is growing interest among major banks following Ripple’s efforts in making cross-border transactions more efficient. It bears mentioning that Ripple has been pushing harder to expand its business despite the long-running legal tussle.
The fintech firm has already obtained a major payment institution (MPI) license in Singapore. The impending partnership with the FTA could mark a milestone in its expansion plans.
What’s Next for Ripple’s Coin?
Meanwhile, XRP has attracted massive attention in the crypto industry following several bullish predictions by analysts. EGRAG CRYPTO, a crypto analyst, recently said that XRP is flexing momentum for a potential 58X surge after the SEC’s lawsuit.
#XRP 58X? Nahhhhhhhhhhhh, you’re Delusional:
Allow me to share some insight: In the previous cycle, #ETH achieved a 58X growth despite the controversies surrounding it.
#XRP is poised to make a significant 58X leap, and this marks just the beginning. With legal clarity now in… pic.twitter.com/dlWAhlEjtK
— EGRAG CRYPTO (@egragcrypto) October 5, 2023
The analyst believes that XRP can attain this height, mirroring ETH’s historical 58X growth. However, the asset’s performance following the SEC’s legal action against the asset beclouds the certainty of this prediction.
Moreover, he noticed a negative sentiment among XRP holders as they mocked the optimism of other XRP enthusiasts.
Meanwhile, today, October 6, at 10:18 AM EST, XRP’s price is up 1%, trading at $0.52 in the last 24 hours. Its current price represents a loss of nearly 2% from its worth in the past week.