Ripple has announced plans to get an Australian Financial Services License (AFSL) by acquiring a local payments firm, BC Payments Australia Pty Ltd.
The move comes ahead of new regulations taking effect on June 30, 2026, which will require crypto companies operating in Australia to hold a license before offering certain financial services. The acquisition deal is expected to close on April 1, following standard procedures.
Ripple’s APAC Managing Director, Fiona Murray, said that Australia is a key market for the company. The license will allow Ripple Payments to handle the full transaction lifecycle, including onboarding, compliance, funding, foreign exchange, liquidity management, and final payouts, while integrating both traditional banking rails and digital assets.
This effort is part of Ripple’s broader focus on regulatory compliance. Over the past year, the company has secured licenses in Singapore, the UAE, and the UK, and also received conditional approval for a national trust banking charter from the U.S. Office of the Comptroller of the Currency.
Securing these licenses supports Ripple’s goal of expanding institutional adoption of its XRP ecosystem and its stablecoin RLUSD. Ripple is now one of the world’s most valuable private companies, with a valuation of around $50 billion.
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