Ripple plans to secure an AFSL via BC Payments Australia to expand its payment services in Australia, integrating key functionalities.
Licensing Expansion through Acquisition
Ripple has announced plans to secure an Australian Financial Services License (AFSL) through the proposed acquisition of BC Payments Australia Pty Ltd, as detailed in a release shared with CoinDesk. This move would enable Ripple to offer its comprehensive suite of payment services across Australia, integrating various functionalities such as onboarding, compliance, foreign exchange, and liquidity management under a single platform.
Current Market Presence and Growth
Currently, Australian entities such as Hai Ha Money Transfer, Stables, Caleb & Brown, Flash Payments, and Independent Reserve are among those using Ripple Payments. Fiona Murray, managing director for Asia Pacific at Ripple, emphasized the significance of the Australian market, stating, "Australia is a key market for Ripple, and an AFSL strengthens our ability to scale Ripple Payments across the region." According to Ripple, APAC payments volume nearly doubled year-on-year in 2025, reflecting the growing interest and demand for its services in the region.
Strategic Initiatives and Partnerships
Ripple's expansion into the Australian market aligns with its broader strategic initiatives. The company recently announced managed custody, virtual account collections, and stablecoin settlement capabilities across 60 markets. Additionally, Ripple is participating in Project Acacia, an initiative led by the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre, focusing on the development of digital asset infrastructure. These initiatives underscore Ripple's commitment to innovation and regulatory compliance in the rapidly evolving digital finance landscape.
Licensing and Market Entry
The licensing approach chosen by Ripple is noteworthy. Instead of applying for an AFSL directly, the company is acquiring a firm that already holds the license. This strategy offers a faster path to market but is contingent on the deal closing. As of now, the acquisition remains subject to completion. Ripple’s XRP token was trading at $1.38 on the day of the announcement, with a 0.3% increase for the day and a 1.7% increase for the week.
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