Svmuu News Ripple officially announced on Tuesday its plan to acquire an Australian Financial Services License (AFSL) through the acquisition of BC Payments. If approved, this license will allow Ripple to directly integrate its payment infrastructure into Australia's regulatory framework. This would enable the management of the entire lifecycle of cross-border transactions under a single integration, including compliance reviews, foreign exchange conversion, and final settlement.
Fiona Murray, Managing Director of Ripple for the Asia-Pacific region, stated that Australia is a core market for Ripple, and this license will significantly enhance its scalability. Data shows that Ripple's payment volume in the Asia-Pacific region nearly doubled in 2025, and the company has already established partnerships with several local institutions, including Independent Reserve. Industry analysts believe this move could serve as a template for integrating crypto technology into mainstream financial systems, particularly in high-friction areas like cross-border settlements. Additionally, Ripple CEO Brad Garlinghouse recently expressed his belief that trillion-dollar market cap crypto companies will emerge in the future. (Decrypt)