Ripple Aims to Acquire Australian Financial License, Plans to Complete in April

On March 11, cryptocurrency firm Ripple announced plans to acquire Australian payment provider BC Payments to secure an Australian Financial Services License (AFSL), with the deal expected to close on April 1. Once the acquisition wraps up, Ripple will obtain the AFSL—a required qualification for some crypto companies to offer financial services in Australia moving forward. Ripple noted that holding the AFSL will enable its Australian payment business to handle end-to-end transaction management locally, covering customer onboarding, compliance, fund settlement, foreign exchange, liquidity management, and final payment—while integrating traditional banking systems with digital asset networks. Over the past year, Ripple has been ramping up its global compliance footprint: it has secured payment-related licenses in Singapore, the United Arab Emirates, and the UK, plus conditional approval for a national trust bank charter in the U.S. The company has also expanded its business via acquisitions, including the purchase of institutional broker-dealer Hidden Road (now rebranded as Ripple Prime).