Ripple Plans Australian License Through BC Payments Deal

Ripple plans to secure an Australian Financial Services License (AFSL) through the proposed acquisition of BC Payments Australia Pty Ltd, a move that would expand the company’s regulated presence in the Asia-Pacific region and strengthen its payments infrastructure for institutions operating across borders.

The blockchain infrastructure provider announced the plan on March 11, stating that the license would allow it to expand Ripple Payments in Australia and provide regulated services to financial institutions, fintech companies, and enterprises that move funds internationally.

Ripple intends to obtain the license through the acquisition of BC Payments Australia, an entity linked to the European Banking Circle Group. The transaction remains subject to standard completion procedures. Financial terms of the acquisition have not been disclosed.

According to the company, the AFSL would allow Ripple to operate a licensed platform capable of managing the full lifecycle of international payments. The system covers onboarding, compliance checks, funding, foreign exchange, liquidity management, and final payout while integrating both traditional banking rails and blockchain-based infrastructure.

Expansion of Ripple Payments infrastructure

The license would enable the company to directly oversee settlement processes and connect clients with local payout partners in Australia. The company stated that the model reduces reliance on intermediaries and allows customers to integrate into Ripple’s infrastructure through a single connection.

“With the AFSL in place, Ripple Payments can manage the full lifecycle of a transaction, from onboarding and compliance through funding, FX, liquidity management, and final payout, while integrating both traditional banking rails and digital assets,” the company said in its announcement.

Fiona Murray, Ripple’s managing director for Asia Pacific, described regulatory licensing as a central part of the company’s long-term strategy.

“Licensing is fundamental to Ripple’s strategy, ensuring we can deliver secure, compliant solutions to customers worldwide,” Murray said in a statement.

“Australia is a key market for Ripple, and an AFSL strengthens our ability to scale Ripple Payments across the region. By leveraging blockchain technology and digital assets, we enable customers to move value globally with greater speed, transparency, and reliability. We remain focused on working closely with regulators to support the next phase of growth for digital asset infrastructure.”

The platform allows institutions to move funds without managing the underlying blockchain technology themselves. The system integrates digital assets with existing banking infrastructure while maintaining regulatory oversight.

Institutional demand and regional growth

The company reported strong regional momentum in the Asia-Pacific market. Ripple's APAC payments volume nearly doubled year-on-year in 2025, though it did not disclose exact figures.

Australia already hosts several companies that use Ripple’s payments network. These include Hai Ha Money Transfer, Novatti Group, Stables, Caleb & Brown, Flash Payments, and Independent Reserve.

Ripple stated that the AFSL would strengthen its ability to serve these partners while expanding its presence among financial institutions modernizing payment infrastructure.

The firm also said it participates in Project Acacia, an initiative led by the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre. The program focuses on developing digital asset infrastructure within the country’s financial system.

Part of a wider global licensing push

Ripple has pursued regulatory approvals across several jurisdictions during the past year. The company holds more than 75 regulatory licenses worldwide.

Recent approvals include a full Electronic Money Institution license in Luxembourg and conditional approval from the U.S. Office of the Comptroller of the Currency to become a national trust bank charter. Ripple has also secured payment licenses in Singapore, the United Arab Emirates, and the United Kingdom during the past 12 months.

The growing portfolio of licenses supports institutions that plan to adopt blockchain-based financial infrastructure while maintaining regulatory compliance.

“Getting licensed was always part of our plan,” Murray said in comments cited by The Australian.

The company has also expanded its digital asset ecosystem through acquisitions and partnerships. Ripple recently acquired prime broker Hidden Road, now rebranded as Ripple Prime, which provides clearing, financing, and brokerage services across digital assets, derivatives, foreign exchange, and fixed-income products for institutional clients.

Ripple also works to expand the usage of XRP and its dollar-pegged stablecoin RLUSD across institutional financial services.

Regulatory backdrop in Australia

Ripple’s licensing effort comes as Australia moves toward clearer regulation of digital asset services.

The country introduced a Digital Asset Framework bill last year. The legislation passed the lower house in February and now awaits consideration in the Senate.

At the same time, the Australian Securities & Investments Commission has proposed new rules for the crypto sector. The regulator said crypto trading platforms may need to obtain AFSL licenses to provide certain financial services.

ASIC stated in October that it would not take enforcement action related to licensing requirements until at least June 30, 2026.

Several industry participants continue to watch developments closely. Crypto exchange Coinbase has also indicated that it plans to pursue an AFSL in the coming months as regulatory clarity improves in the country.

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