Ripple has announced plans to secure an Australian Financial Services License (AFSL) through the proposed acquisition of BC Payments, the Australian subsidiary of European-based payments and fintech infrastructure provider Banking Circle.

The move is part of Ripple’s strategy to expand regulated operations in the Asia Pacific.

BC Payments, launched in 2023, provides fintechs and banks with solutions for cross-border payments and global growth. The service targets challenges faced by local high-growth firms, including restricted access to clearing, settlement, and international payment rails.

The AFSL will allow the firm to enhance its payments platform in Australia, enabling financial institutions and enterprises to move value across borders more quickly, transparently, and efficiently while operating within local regulatory frameworks, according to Fiona Murray, regional director for Asia Pacific at Ripple.

“Licensing is fundamental to Ripple’s strategy, ensuring we can deliver secure, compliant solutions to customers worldwide,” said Murray. “Australia is a key market for Ripple, and an AFSL strengthens our ability to scale Ripple Payments across the region.”

With the license, Ripple Payments can oversee the end-to-end transaction process, including compliance, FX, liquidity management, and final settlement, while integrating traditional banking rails with digital assets to streamline cross-border payments.

The planned acquisition, subject to standard completion processes, comes as Ripple sees strong regional growth. In 2025, Ripple’s APAC payments volume nearly doubled year-on-year.

With over 75 global licenses, the company ranks among the most highly regulated digital asset companies, supporting its ability to scale modern payment and treasury infrastructure for institutions transitioning from legacy systems.