Ripple is acquiring Australian payments firm BC Payments to obtain an Australian Financial Services License (AFSL), the blockchain company announced Monday.
The move allows Ripple to bypass the lengthy direct application process with the Australian Securities and Investments Commission (ASIC).
That process can often take months or even years. By acquiring BC Payments, Ripple gains a faster route to regulatory approval.
The AFSL will allow Ripple to offer faster and fully compliant cross-border payment services. It will also help expand the company’s presence across the Asia-Pacific region.
Fiona Murray, Ripple’s Managing Director for Asia Pacific, said in a statement that Australia remains a key market for the company.
“Australia is a key market for Ripple, and an AFSL strengthens our ability to scale Ripple Payments across the region,” Murray said.
The license will allow Ripple to handle end-to-end transactions. This includes customer onboarding, payment processing, and final payout.
As a result, Ripple’s services will operate fully inside Australia’s regulated financial system rather than around its edges.
Why an Acquisition Instead of an Application
Instead of applying directly to ASIC, Ripple chose to obtain the license by acquiring BC Payments. A direct application for an AFSL can take considerable time because of detailed regulatory reviews.
Buying an existing licensed firm provides a faster path into the market.
This strategy is becoming increasingly common among global crypto companies. Many firms are acquiring licensed entities in order to accelerate market entry in countries where regulatory frameworks are becoming stricter.
Australia follows a dual-regulator model for digital assets.
- AUSTRAC oversees anti-money-laundering and counter-terrorism financing rules
- ASIC handles consumer protection and financial licensing
The Digital Assets Framework Bill 2025 introduced new licensing requirements. Under the legislation, platforms processing more than $10 million in annual volume or handling $5,000 per customer must obtain an AFSL. These requirements will begin taking effect in 2026.
Part of a Broader Regulatory Strategy
The Australian expansion is part of Ripple’s wider regulatory push across global markets.
The company now holds more than 75 regulatory licenses worldwide. In recent years it has secured approvals in several major jurisdictions.
Ripple recently obtained a full Electronic Money Institution license in Luxembourg. That approval allows the company to offer regulated payment services throughout the European Union.
Its UK subsidiary has also received approval from the Financial Conduct Authority (FCA).
In the United States, Ripple received conditional approval for a national trust bank charter from the Office of the Comptroller of the Currency in late 2025.
These approvals form part of Ripple’s effort to expand regulated payment infrastructure across multiple regions.
Asia-Pacific Growth Driving the Move
Ripple’s payments activity in the Asia-Pacific region nearly doubled in 2025. The rapid growth has made Australia an increasingly important market for the company.
The country sits between major financial centers in Asia and Western markets. That position makes it a strategic hub for international payment flows.
Securing an AFSL would allow Ripple to strengthen partnerships with financial institutions and payment providers throughout the region.
A More Structured Regulatory Environment
Australia has been steadily tightening oversight of digital asset businesses.
The Corporations Amendment (Digital Assets Framework) Bill 2025 expanded the definition of regulated crypto activities.
The law now includes custodial wallets and custodial staking services under financial regulation.
The goal is to enforce stronger safeguards such as:
- Asset segregation
- Custody standards
- Solvency requirements for service providers
At the same time, AUSTRAC is implementing the Crypto Travel Rule. This rule requires virtual asset service providers to collect and transmit identifying information during digital asset transfers.
The new compliance obligations will take effect on July 1, 2026.
For Ripple, obtaining an AFSL now positions the company ahead of these regulatory requirements.
Operating within Australia’s licensed financial framework may also give Ripple an advantage as oversight across the crypto sector continues to tighten.
