Ripple Acquires BC Payments Australia for AFSL

Ripple has announced its intention to acquire Banking Circle===BC Payments Australia, a subsidiary of Banking Circle, to secure an Australian Financial Services License (AFSL). This strategic acquisition aims to expedite Ripple's market entry and enhance its compliance credentials in Australia, a key market for its Asia-Pacific expansion. The AFSL will enable Ripple to offer its full Ripple Payments platform, covering the entire transaction lifecycle from onboarding and compliance to liquidity management and final payout, integrating both traditional banking rails and digital assets. This move is part of Ripple's broader strategy to expand its regulated operations globally, as evidenced by its over 75 licenses worldwide. Additionally, Ripple is joining Project Acacia, a digital-asset infrastructure initiative led by the Australia===Reserve Bank of Australia and the Digital Finance Cooperative Research Centre, further solidifying its presence in the Australian digital finance landscape. The acquisition is subject to standard completion processes.