Ripple announced plans on Wednesday to obtain an Australian financial services license through its proposed acquisition of BC Payments Australia Pty Ltd, according to a statement shared with CoinDesk.
The acquisition, which is still subject to completion, would allow Ripple to offer its full payments suite in Australia, spanning onboarding, fulfillment, financing, foreign exchange, liquidity management and payment through a single integration.
Australian clients currently using Ripple Payments include Hai Ha Money Transfer, Stables, Caleb & Brown, Flash Payments and Independent Reserve.
“Australia is a key market for Ripple, and an AFSL strengthens our ability to scale Ripple payments across the region,” Fiona Murray, managing director for Asia Pacific, said in a statement.
Regional numbers support the push. Ripple said its payments volume in APAC almost doubled year-over-year in 2025, although it did not disclose specific figures.
That growth comes on top of the $100 billion in total processed volume the company reported last week when it announced managed custody, virtual account collections, and stablecoin settlement capabilities in 60 markets.
Ripple also said it is participating in Project Acacia, an initiative led by the Reserve Bank of Australia and the Digital Finance Cooperative Research Center focused on digital asset infrastructure.
The licensing approach is remarkable. Instead of applying for an AFSL directly, Ripple is acquiring a company that already owns one. That’s a faster path to market, but it means the license is dependent on the deal closing, which hasn’t happened yet.
XRP was trading at $1.38, up 0.3% on the day and 1.7% on the week.
