Ripple is seeking to expand its regulated footprint in Australia through the planned acquisition of BC Payments Australia, a payments company linked to the European Banking Circle Group. The deal will give Ripple access to an Australian Financial Services License (AFSL), a regulatory authorization expected to become mandatory for certain digital asset service providers operating in the country.
The acquisition is expected to close on April 1, according to statements from Ripple’s Asia-Pacific managing director Fiona Murray. She said institutional interest in digital assets within Australia has been strong enough to justify the investment required to secure the license. With the AFSL in place, Ripple aims to expand its payments infrastructure and manage the full lifecycle of transactions, including onboarding, compliance, liquidity management, and final settlement across both traditional banking rails and blockchain networks.
Broader Licensing Push
The Australian move is part of Ripple’s broader global licensing strategy. Over the past year, the company has secured regulatory approvals or payment licenses in several jurisdictions, including Singapore, the United Arab Emirates, and the United Kingdom. Ripple has also received conditional approval for a national trust banking charter in the United States.
In parallel, the company has expanded its institutional services through acquisitions. Its purchase of prime brokerage firm Hidden Road, now operating as Ripple Prime, marked the first instance of a crypto-native firm operating a multi-asset prime broker serving institutional clients across digital assets, derivatives, foreign exchange, and fixed-income markets.
Regulatory Landscape in Australia
Ripple’s expansion comes as Australia continues developing a regulatory framework for digital assets. The country’s Digital Asset Framework bill passed the lower house earlier this year and is currently under consideration in the Senate. Meanwhile, the Australian Securities and Investments Commission has proposed rules requiring crypto trading platforms to obtain AFSL licenses, although enforcement is not expected before mid-2026.
Industry participants say clearer licensing requirements could help address ongoing banking restrictions faced by crypto companies in Australia. Several major banks in the country have imposed limits on transfers to digital asset platforms, a situation that has complicated industry growth. Companies, including Coinbase, are also pursuing AFSL approvals, indicating growing competition among global crypto firms seeking regulated access to the Australian market.
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