Ripple has announced its intention to acquire BC Payments Australia Pty Ltd as part of its strategy to obtain an Australian Financial Services License (AFSL). This move is aimed at enhancing Ripple’s operations in Australia, where the company has seen significant growth in payment volumes.
The acquisition, which is pending completion, will enable Ripple to provide a comprehensive payments solution in Australia. This includes services such as onboarding, compliance, funding, foreign exchange, liquidity management, and payouts, all integrated into a single platform.
Currently, several Australian businesses, including Hai Ha Money Transfer, Stables, Caleb & Brown, Flash Payments, and Independent Reserve, utilize Ripple Payments. Fiona Murray, managing director for Asia Pacific at Ripple, emphasized the importance of the Australian market, stating that obtaining the AFSL would bolster the company’s ability to expand its payment services in the region.
Ripple reported that its payment volume in the Asia-Pacific (APAC) region nearly doubled year-on-year in 2025, although specific figures were not disclosed. This growth aligns with Ripple’s recent announcement of processing a total volume of $100 billion, which includes new capabilities in managed custody, virtual account collections, and stablecoin settlements across 60 markets.
Additionally, Ripple is involved in Project Acacia, a collaborative initiative with the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre, focusing on the development of digital asset infrastructure.
Ripple’s approach to obtaining the AFSL is noteworthy; instead of applying for the license directly, the company is acquiring an existing license holder. This strategy is expected to expedite Ripple’s entry into the Australian market, although the acquisition must be finalized for the license to be effective.
As of the latest trading data, XRP, Ripple’s native cryptocurrency, was valued at $1.38, reflecting a slight increase of 0.3% for the day and 1.7% for the week.
Ripple is set to acquire BC Payments Australia to secure an Australian Financial Services License, enhancing its payment services in a rapidly growing market. The acquisition reflects Ripple's strategic focus on expanding its regulated presence in the Asia-Pacific region.