Ripple has revealed plans to obtain an Australian Financial Services Licence (AFSL) through the acquisition of BC Payments Australia.

The acquisition is subject to standard completion formalities.

The licence will enable Ripple to expand its cross-border payments service in Australia, allowing banks, fintechs and enterprises to move value faster while remaining fully compliant with local regulations.

Once approved, Ripple Payments will control the entire transaction lifecycle – from onboarding and compliance to funding, FX, liquidity provision and final payout – combining traditional banking rails with digital assets.

The company said the move will offer it direct oversight of settlement, access to local payout networks and optimised routing, delivering quicker settlement, greater transparency and reduced counterparty risk.

Customers will benefit from a single integration point, avoiding the complexity of multiple intermediaries or blockchain management, it added.

Ripple Asia Pacific managing director Fiona Murray said: “Australia is a key market for Ripple, and an AFSL strengthens our ability to scale Ripple Payments across the region. By leveraging blockchain technology and digital assets, we enable customers to move value globally with greater speed, transparency, and reliability.

“We remain focused on working closely with regulators to support the next phase of growth for digital asset infrastructure.”

Ripple’s APAC payments volume nearly doubled year-on-year in 2025.

The company already serves Australian clients including Hai Ha Money Transfer, Novatti Group, Stables, Caleb & Brown, Flash Payments and Independent Reserve.

Last month, Ripple gained full Electronic Money Institution authorisation from Luxembourg’s CSSF. Currently, it holds more than 75 regulatory licences globally.

In November, the company raised $500m at a $40bn valuation.