Crypto firm Ripple has said it is set to secure a key financial services license in Australia by acquiring an Australian payments company, adding to its acquisition of an international license last year.
In a statement on Tuesday, Ripple said it will buy the Australian company BC Payments, which is affiliated with the European Banking Group, giving it access to the Australian Financial Services License (AFSL), which is required for certain crypto companies to provide financial services in the country.
The acquisition of BC Payments Australia is set to close on April 1, The Australian reported, citing comments from Ripple APAC CEO Fiona Murray.
Murray said that “there is enough institutional interest in digital assets to warrant an investment for us.”
“Getting a license has always been part of our plan.”
An exciting milestone for @Ripple in Australia! 🇦🇺
Ripple receives Australian Financial Services License (AFSL). As we continue to connect TradFi with the next generation of digital infrastructure, compliance is at the core of everything we build:… pic.twitter.com/JNF1iQSyG7
— Ripple (@Ripple) March 10, 2026
In Ripple’s statement, Murray said that “Australia is a key market for Ripple” and that AFSL will strengthen the company’s ability to expand its payments business across the country.
“With AFSL in place, Ripple Payments can manage the entire transaction cycle from onboarding and compliance through funding, currency, liquidity management and final payment, while integrating both traditional banking rails and digital assets.”
Ripple has been working to expand its collection of international licenses over the past year.
In addition to recently receiving conditional approval for a national banking trust charter in the US, Ripple has also won payment licenses in Singapore, the UAE and the UK in the past 12 months.
The company has also worked to expand the use cases of XRP (XRP) and the stability of Ripple USD (RLUSD) through major acquisitions in recent months, notably non-bank brokerage Hidden Road and corporate treasury platform GTreasury.
The acquisition of Hidden Road – now Ripple Prime – made Ripple the first crypto parent company to own a multi-asset brokerage that covers everything from clearing, funding and brokerage through digital assets, derivatives swaps, currencies and fixed income products for institutional clients.
Ripple’s plans for Australia come as lawmakers introduced a digital asset framework bill last year, which passed the House of Commons in February and is now in the Senate.
The Australian Securities and Investments Commission (ASIC), the country’s markets regulator, has also proposed regulations for the crypto sector.
ASIC is also encouraging crypto trading platforms to secure AFSLs and stated in October that it would not take any action on licensing issues until at least 30 June 2026.
Crypto exchange Coinbase is also looking to provide an AFSL in the coming months.
Murray hopes Australia will end crypto banking
Murray told The Australian that he hoped the move to AFSLs would end Australia’s widespread crypto banking issue, which has seen many banks block or impose restrictions on customers trying to deposit funds into crypto exchanges.
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Australia’s “Big Four” banks – Commonwealth Bank, Australia and New Zealand, National Australia Bank and Westpac – have all implemented various forms of restrictions on crypto exchanges.
In an interview with Cointelegraph at the XRP Australia conference on February 27, OKX Australia CEO Keith Cooper said that banking barriers are affecting adoption in the country.
“It’s still a challenge in this industry,” Cooper said. “I don’t think there’s been any improvement. And we’re working hard with governments to encourage them to set some standards around that.”
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