Ripple to buy BC Payments in Australian licence push

Ripple has announced plans to secure an Australian Financial Services Licence (AFSL) through the proposed acquisition of BC Payments Australia. The move would expand its regulated cross-border payments operations in Australia and the wider Asia-Pacific region.

The planned acquisition remains subject to completion steps. If the transaction proceeds and the licence is secured, Ripple would conduct regulated payments activities under the AFSL framework. The announcement comes as Australian regulators and industry bodies increase their focus on digital asset market structure, custody and payments.

Licence route

An AFSL is a central licence in Australia's financial services regime, setting requirements for conduct, disclosure and oversight for firms that provide financial services. Payment providers and fintechs often rely on licensing, exemptions or partnerships to operate.

Ripple intends to use the licence as the basis for a broader payments offering. Under the proposed structure, it would cover the full lifecycle of a cross-border transaction, including onboarding and compliance, funding, foreign exchange, liquidity management and payout.

Ripple also plans to integrate traditional banking rails with digital assets on the same platform. That approach reflects a broader trend in payments, where providers combine established networks with token-based settlement options and digital asset liquidity.

Platform scope

The licensed setup would reduce the need for customers to connect multiple intermediaries, while allowing them to avoid managing blockchain technology directly. Ripple would oversee settlement and adjust transaction routing.

Cross-border payments remain an area of active competition in Asia-Pacific. Banks, remittance firms and specialist fintechs have invested in new messaging standards and real-time rails, while also experimenting with tokenised deposits and stablecoins. The market includes high-volume corridors such as Australia to South-East Asia and the Pacific Islands, where speed, fees and transparency are commercial priorities.

Ripple's payments business in the region has grown quickly, according to the company. APAC payments volume nearly doubled year on year in 2025, it said, citing work with Australian firms including Hai Ha Money Transfer, Stables, Caleb & Brown, Flash Payments and Independent Reserve.

Regulatory footprint

Ripple said it holds more than 75 regulatory licences globally, which it views as a foundation for expanding digital-asset-related products in regulated settings. Payments firms have increasingly pursued licences across multiple jurisdictions as regulators tighten requirements around anti-money laundering controls, safeguarding and operational resilience.

Ripple also highlighted its participation in local policy and research efforts, including Project Acacia, an initiative led by the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre. The project forms part of a wider set of trials and consultations examining how tokenisation and digital money models might operate alongside existing payment systems.

The proposed AFSL path also underscores how established cryptocurrency and blockchain firms are positioning in mainstream payments. Rather than focusing only on trading and custody, several have promoted settlement networks and liquidity services that plug into traditional payment flows, particularly for international transfers.

A key question will be how Ripple structures its offering under Australian rules once the acquisition completes and the AFSL is in place. Firms operating regulated payments face scrutiny around customer onboarding, transaction monitoring, complaints handling and the use of third parties. They also need to demonstrate systems and controls that match the complexity of cross-border activity.

Ripple's regional leadership said licensing sits at the centre of its approach.

"Licensing is fundamental to Ripple's strategy, ensuring we can deliver secure, compliant solutions to customers worldwide," said Fiona Murray, Managing Director, Asia Pacific, Ripple. "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 said it will pursue the AFSL through the acquisition of BC Payments Australia, following the standard completion process.