Ripple, the blockchain payments company, has announced plans to acquire BC Payments Australia Pty Ltd. to obtain an Australian Financial Services License (AFSL). The acquisition, subject to standard completion processes, is designed to expand Ripple's regulated cross-border payment services for financial institutions and enterprises in Australia and across the Asia-Pacific region.
Fiona Murray, Ripple's Managing Director for Asia Pacific, emphasized that licensing is central to the company's global strategy, enabling compliant service delivery. The license would allow Ripple to directly oversee settlement and connect customers with local payout networks, integrating traditional banking with digital asset infrastructure. The company reported that its APAC payments volume nearly doubled in 2025, with several Australian firms already using its infrastructure, including Hai Ha Money Transfer, Novatti Group, and Independent Reserve.
Concurrently, Australian lawmakers are advancing a clearer regulatory framework for digital assets. On March 16, a Senate committee recommended passing the Corporations Amendment (Digital Assets Framework) Bill 2025. This legislation would subject many centralized crypto exchanges and custodial platforms to the AFSL regime, requiring them to obtain a license and comply with new standards for client fund protection, fee transparency, and risk disclosure.
The proposed framework focuses on regulating companies that control customer digital assets, not the underlying blockchain technology. It includes exemptions for smaller platforms handling less than 5,000 AUD per customer and under $10 million in annual transactions. The bill builds upon existing requirements for digital currency exchanges to register with AUSTRAC for anti-money laundering compliance.
This regulatory development aligns with Ripple's strategic move, as the company's planned acquisition would position it to meet the forthcoming licensing requirements. Ripple currently holds over 75 regulatory licenses globally and participates in Australian policy initiatives like Project Acacia, led by the Reserve Bank of Australia.
