TLDR
- Ripple is set to purchase BC Payments Australia to obtain an Australian Financial Services License (AFSL)
- Target closing date is April 1, 2026, enabling expedited entry into Australia’s regulated financial services sector
- The company’s APAC region payment processing volume increased nearly 100% year-over-year during 2025, part of $100 billion processed globally across 60 jurisdictions
- At announcement time, XRP was priced at $1.38, showing daily gains of 0.3% and weekly increases of 1.7%
- The company is participating in Project Acacia, Australia’s central bank-led digital asset infrastructure program
Ripple has opted for a strategic acquisition approach to obtain Australian financial licensing, choosing to purchase a payments firm that already possesses the necessary regulatory approvals. This strategy allows the blockchain payments company to bypass lengthy application processes and enter Australia’s regulated crypto services market more rapidly.
The acquisition target is BC Payments Australia Pty Ltd, a subsidiary connected to the European-based Banking Circle Group. Through this purchase, Ripple gains immediate access to an Australian Financial Services License, which company executives identify as essential for expanding their payments infrastructure throughout the region.
April 1 marks the anticipated closing date for this transaction, as stated by Fiona Murray, Ripple’s APAC managing director. Murray noted that “enough institutional interest in digital assets to warrant the investment” exists in the market.
Instead of submitting a fresh AFSL application and enduring the associated waiting period, Ripple identified acquiring an already-licensed entity as the more efficient pathway. While this accelerates market entry, the license transfer remains contingent upon successful deal completion.
Once the AFSL becomes operational under Ripple’s ownership, the company intends to oversee complete payment workflows — spanning customer onboarding, regulatory compliance, funding operations, currency exchange, liquidity provision, and settlement — integrating conventional banking infrastructure with digital asset capabilities.
Current Australian clients utilizing Ripple Payments services include Hai Ha Money Transfer, Stables, Caleb & Brown, Flash Payments, and Independent Reserve.
Ripple’s APAC Growth
The company reported that its Asia-Pacific payment processing volume experienced near-doubling growth compared to 2024 figures, though exact transaction values were not disclosed. This regional expansion contributes to a significant company-wide achievement announced recently — surpassing $100 billion in cumulative processed payments spanning 60 global markets.
Additionally, Ripple is becoming a participant in Project Acacia, a collaborative program operated by the Reserve Bank of Australia alongside the Digital Finance Cooperative Research Centre, dedicated to developing digital asset infrastructure frameworks.
Australia continues advancing its cryptocurrency regulatory structure. The Digital Asset Framework legislation successfully passed through the lower parliamentary chamber in February and currently awaits Senate consideration. ASIC, the nation’s securities regulator, has committed to postponing enforcement actions regarding licensing requirements until no earlier than June 30, 2026.
Ripple’s Broader Licensing Push
This Australian expansion represents one component of a comprehensive global licensing strategy. Throughout the past year, Ripple has obtained payment operating licenses across Singapore, the United Arab Emirates, and the United Kingdom. The company also recently received preliminary approval for a national trust banking charter within the United States.
Acquisitions have further accelerated Ripple’s expansion, including the purchase of Hidden Road — subsequently rebranded as Ripple Prime — establishing the company as the first crypto-native organization to operate a multi-asset prime brokerage. The acquisition of corporate treasury platform GTreasury added additional capabilities.
Murray expressed optimism that obtaining the AFSL could help counteract crypto debanking trends in Australia, where leading financial institutions have implemented restrictions preventing customers from transferring funds to cryptocurrency exchanges. Australia’s top four banking institutions — Commonwealth Bank, ANZ, National Australia Bank, and Westpac — have each enacted various forms of these limitations.
Cryptocurrency exchange Coinbase is similarly pursuing AFSL authorization in the upcoming months.
XRP was priced at $1.38 when the announcement was made, reflecting a 0.3% increase during that trading day and 1.7% gains across the week.
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