Ripple has announced plans to secure an Australian financial services license by acquiring a local payments company in the country.
Conclusion
- Ripple plans to acquire an Australian financial services license by acquiring BC Payments Australia.
- The new rules, which will come into effect by June 30, 2026, will require cryptocurrency companies operating in Australia to obtain a license.
Ripple said it will acquire the AFSL license through the acquisition of BC Payments Australia Pty Ltd, a payments company affiliated with the European Banking Circle Group. The deal is currently underway and is expected to close on April 1 following the completion of the standard closing process.
“Australia is a key market for Ripple,” APAC managing director Fiona Murray said in a statement accompanying Ripple, adding that it will help Ripple Payments manage the full transaction cycle, from onboarding and compliance through funding, FX, liquidity management and final payment.
Ripple’s decision to obtain a license comes as Australia’s financial regulator unveiled updated rules for the country’s crypto sector.
From 30 June 2026, cryptocurrency companies operating in Australia will be required to obtain an Australian Financial Services License before being allowed to offer certain financial services to local customers.
In recent years, Ripple has expanded its global regulatory reach by focusing on securing licenses in key markets around the world.
Only in 2025, Ripple was able to secure payment licenses in Singapore, the UAE and the United Kingdom. The company has also been granted conditional approval for a national fiduciary banking charter by the US Comptroller of the Currency along with a number of other companies.
Securing these regulatory approvals helped Ripple strengthen its push for wider institutional adoption of the XRP ecosystem (XRP) and its flagship stablecoin, RLUSD.
As previously reported by crypto.news, Ripple has become one of the most valuable private companies in the world, with a value of around $50 billion.
