Ripple has announced plans to secure an Australian financial services license by acquiring a local payments firm in the country.
Summary
- Ripple plans to obtain an Australian Financial Services License through the acquisition of BC Payments Australia.
- New regulations set to take effect by June 30, 2026, would require crypto companies operating in Australia to obtain a license.
Ripple said it will obtain the AFSL license through the acquisition of BC Payments Australia Pty Ltd, a payments company linked to the European Banking Circle Group. A deal is still underway and is expected to close on April 1 after the standard closing process is finalized.
“Australia is a key market for Ripple,” Ripple’s APAC Managing Director Fiona Murray said in an accompanying statement, adding that it will help Ripple Payments “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.”
Ripple’s decision to pursue the license comes as Australia’s financial regulator has unveiled updated regulations for the country’s crypto sector.
Starting June 30, 2026, crypto firms operating in Australia would be required to obtain an Australian Financial Services License before they are allowed to offer certain financial services to local customers.
Over the past years, Ripple has expanded its global regulatory footprint by focusing on securing licenses across key markets around the world.
In 2025 alone, Ripple managed to secure payment licenses in Singapore, the UAE, and the UK. The company was also granted conditional approval for a national trust banking charter by the U.S. Office of the Comptroller of the Currency alongside a handful of other firms.
Securing these regulatory approvals has helped Ripple strengthen its push for broader institutional adoption of the XRP (XRP) ecosystem and its flagship stablecoin RLUSD.
As previously reported by crypto.news, Ripple became one of the world’s top most valuable private companies, with its valuation reaching roughly $50 billion.
