Ripple seeks to secure an Australian financial licence, eyes acquisition of payments firm

Crypto firm Ripple is pursuing the acquisition of a local payments company to obtain an Australian financial licence.

On the 10th (local time), Cointelegraph reported that Ripple plans to acquire Australian payments company BC Payments Australia to secure the Australian Financial Services Licence (AFSL) held by the firm. The transaction is expected to be completed on April 1.

The AFSL is a core licence required to provide financial services in Australia and is set to apply to some crypto firms in the future.

Fiona Murray, Ripple’s head of Asia-Pacific (APAC), said, “Institutional investors’ interest in digital assets is strong enough that we determined this investment is worth pursuing,” adding, “Securing the licence was part of our plan from the outset.”

Murray also stressed that “Australia is a key market for Ripple,” noting that obtaining the AFSL would help expand its payments business. She explained, “With the licence, we can manage the entire transaction lifecycle—from customer onboarding and regulatory compliance to funding, FX, liquidity management, and final settlement.”

Ripple has been stepping up its global licensing strategy over the past year. In the United States, it received conditional approval for a national trust bank charter, and it has also secured payments-related licences in Singapore, the United Arab Emirates (UAE) and the United Kingdom.

Separately, Ripple has been pursuing acquisitions to broaden the use of its crypto asset XRP and stablecoin RLUSD. It has recently acquired non-bank prime brokerage Hidden Road and corporate treasury platform GTreasury, moving to expand its institutional financial infrastructure.