According to The Block, Ripple has announced plans to acquire BC Payments to obtain an Australian Financial Services License (AFSL), further expanding its presence in the Asia-Pacific region. The license acquired through this acquisition will enable Ripple to offer its Ripple Payments end-to-end payment platform in the region, which manages the full lifecycle of transactions and integrates traditional banking and cryptocurrency services. Fiona Murray, Managing Director of Ripple Asia-Pacific, stated that Australia is a key market for Ripple and that the AFSL will enhance the company’s ability to scale Ripple Payments in the region.
Ripple Plans to Acquire BC Payments for Australian Financial Services License
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Summary
Ripple has announced plans to acquire BC Payments to obtain an Australian Financial Services License (AFSL), with the goal of enhancing its CFT compliance and expanding in the Asia-Pacific region. The AFSL will enable Ripple to deploy its Ripple Payments platform, which manages the full transaction lifecycle and connects liquidity with crypto markets. Fiona Murray, Ripple’s Managing Director for Asia-Pacific, stated that Australia is a key market and that the license will support the regional scaling of Ripple Payments.
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