Ripple, the prominent crypto firm, is on track to obtain an Australian Financial Services License through its acquisition of BC Payments Australia. This move is timely as it comes amidst growing institutional interest in the Australian market for digital assets.
Fiona Murray, Ripple’s APAC Managing Director, remarked, “Getting licensed was always part of our plan.” She further expressed that this step will significantly bolster Ripple’s operations in Australia.
Ripple’s acquisition of BC Payments is projected to finalize by April 1, 2026, allowing the company to utilize the license which is becoming crucial for crypto operations in the region. Murray highlighted the strategic importance of Australia as a market for Ripple’s growth. She stated, “With the AFSL in place, Ripple Payments can manage the full lifecycle of a transaction…”
Recent developments indicate that Ripple is actively expanding its international licensing, having already secured licenses in the US and other regions. As Australia adapts to new crypto regulations, the Australian Securities & Investments Commission is also pushing for crypto trading platforms to obtain financial licenses.
Murray expressed hope that the establishment of AFSLs could mitigate the ongoing issue of “crypto debanking” in Australia. The term refers to banks restricting customer deposits to crypto exchanges.
For more details, see Ripple’s full statement.
