Crypto11 March, 20262 min read
Ripple acquires BC Payments to secure AFSL, bypassing Australia's lengthy licensing process
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Ripple will acquire BC Payments Australia to secure an Australian Financial Services License Acquisition lets Ripple bypass Australia's lengthy AFSL application timeline to accelerate APAC expansion
Acquisition for AFSL
Ripple announced it will acquire BC Payments Australia Pty Ltd to obtain that firm’s Australian Financial Services License (AFSL), giving Ripple immediate regulatory authorization to expand Ripple Payments in Australia. The company told media that the purchase targets a BC Payments corporate entity tied to the European Banking Circle Group and framed the move as a direct pathway to AFSL access. The acquisition was disclosed in March and described in Ripple statements as central to its Australian strategy.
“Ripple has disclosed its intention to secure an Australian Financial Services License.”
Operational scope
Ripple says the AFSL will let Ripple Payments manage the full lifecycle of transactions in Australia — from customer onboarding and compliance through funding, FX and liquidity management to final payout — while integrating traditional banking rails with digital-asset capabilities.
Company statements and reporting stressed that a licensed platform would enable end-to-end payment flows, shorten settlement timelines, and connect clients directly to local payment partners.
Why buy instead of apply
Ripple framed the BC Payments acquisition as a way to accelerate market entry and avoid the lengthy timeline for a new AFSL application: the company cited enough institutional interest to justify the investment and set an expected closing date of April 1. Ripple APAC managing director Fiona Murray was quoted in reporting about the timeline and the strategic rationale, and company communications said “getting licensed was always part of our plan.” Reports indicate the deal is in finalization steps.
“The acquisition of BC Payments Australia is set to close on April 1, according to a report from The Australian, citing comments from Ripple APAC managing director Fiona Murray.”
Global expansion context
The move in Australia fits into a broader licensing and expansion push by Ripple, which has secured payment and banking permissions across multiple jurisdictions and pursued acquisitions to build infrastructure.
Reporting notes Ripple has taken steps such as conditional approval for a national trust banking charter in the US, payment licenses in Singapore, the UAE and the UK, and acquisitions including Hidden Road (now Ripple Prime) and GTreasury — steps the company presents as part of a global regulated strategy.
Australian context
Australia’s regulatory backdrop informed Ripple’s strategy: lawmakers passed the Digital Asset Framework through the lower house and ASIC has signalled it will not enforce licensing actions before June 30, 2026, creating a window for licensed entrants.
“The acquisition of BC Payments Australia is set to close on April 1, according to a report from The Australian, citing comments from Ripple APAC managing director Fiona Murray.”
Ripple executives also framed the AFSL as a response to local issues such as crypto debanking and bank restrictions that industry participants say have hindered adoption in Australia.
