Ripple Acquires Australian License via BC Payments Deal
Ripple is acquiring BC Payments Australia to obtain an Australian Financial Services License, with the deal closing April 1. The move comes as Australia's Digital Asset Framework bill advances through the Senate.
Key Takeaway
Ripple's buying a license to bypass Australia's banking blocks and serve institutions directly.
Ripple will acquire BC Payments Australia to secure an Australian Financial Services License, with the deal closing April 1.
Ripple APAC Managing Director Fiona Murray said there was enough institutional interest in digital assets to warrant the investment. The AFSL will let Ripple Payments manage the full lifecycle of a transaction — from onboarding and compliance through funding, FX, liquidity management, and final payout — while integrating both traditional banking rails and digital assets. Murray called Australia a key market for Ripple, noting that getting licensed was always part of the plan.
BC Payments Australia is tied to the European Banking Circle Group. The acquisition comes as Ripple expands its regulatory footprint globally, securing payment licenses in Singapore, the UAE, and the UK over the last 12 months. The company has also won conditional approval for a national trust banking charter in the US.
The AFSL will become mandatory for certain crypto companies to provide financial services in Australia once the Digital Asset Framework bill becomes law. That bill passed through the lower house in February and now sits before the Senate. The Australian Securities & Investments Commission proposed rules for the crypto sector in October 2025, stating it wouldn't take action over licensing matters until at least June 30, 2026.
Crypto debanking remains a problem in Australia. OKX Australia CEO Kate Cooper said at the February 27 XRP Australia conference that it's still a challenge in the industry, with no improvements and ongoing efforts to encourage governments to set standards. All four major Australian banks — Commonwealth Bank, ANZ, National Australia Bank, and Westpac — impose blocks or restrictions on customers trying to deposit funds to crypto exchanges.
Ripple announced the acquisition March 10, saying regulatory compliance remains the foundation of everything they build as they bridge traditional finance with digital infrastructure. The company now holds more than 75 regulatory licenses globally.
This article was written based on reporting from Cointelegraph.
