Ripple to Acquire BC Payments to Secure License in Australia

In the latest XRP news today, Ripple has plans to acquire BC Payments Australia to obtain an Australian Financial Services License (AFSL). This marks a significant expansion in the Asia-Pacific region and bridges TradFi with digital infrastructure.

Ripple to Secure Australia License By Acquiring BC Payments

Blockchain payments and infrastructure giant Ripple is to secure an Australian Financial Services License (AFSL), according to a press release on March 11. The company will acquire BC Payments Australia Pty Ltd to obtain the license, with the acquisition is set to close on April 1.

This XRP news highlights Ripple’s strategy to enhance its payments offerings by managing the full transaction lifecycle, including onboarding, compliance, funding, foreign exchange, liquidity management, and payouts using both traditional banking rails and digital assets.

“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,” said Fiona Murray, Asia Pacific managing director at Ripple.

This XRP news strengthens the utility of Ripple’s assets, including XRP, XRP Ledger (XRPL), and its stablecoin RLUSD, accelerating cross-border payments for banks, fintechs, and enterprises.

Ripple executives, including president Monica Long, commented on X about this XRP news. “Licensing wins keep stacking! 75+ licenses worldwide and counting. Compliance is how we scale,” said Monica Long.

Ripple Expands Footprint in Australia

Ripple continues to scale its operations in the Asia-Pacific region as the company’s payments volume nearly doubled last year. Some customers in the country include Hai Ha Money Transfer, Novatti Group, Stables, Caleb & Brown, Flash Payments, and Independent Reserve.

Continuing with this XRP news, Ripple’s move comes amid its broader global expansion, now holding over 75 regulatory licenses worldwide. As CoinGape reported earlier, Ripple secured electronic money license in Luxembourg to offer services in all 27 EU member states under a single passport framework.

In related XRP news, Ripple expanded its payments platform to unify fiat and stablecoins globally, integrating custody, collections, and liquidity management into a single system. The company has also expanded support for RLUSD in regions such as Asia-Pacific recently.

XRP Price Action amid the Positive News

Amid this positive XRP news and expansion to over 75 licenses, XRP price shows upside momentum. The price jumped almost 1% to $1.39 in the past few hours.

The 24-hour low and high are $1.38 and $1.44, respectively. Furthermore, trading volume has increased by 37% over the last 24 hours, indicating growing interest among traders as Goldman Sachs tops XRP ETFs holder list.

CoinGlass data showed buying sentiment in the derivatives market in the last few hours. The total XRP futures open interest jumped 0.43% to $2.40 billion in the last hour. This XRP news highlights the growing adoption and regulatory progress driving potential price momentum for XRP.