AFSL Application
Ripple made a major play Down Under in early 2026.
The crypto firm announced that it was applying for an Australian Financial Services License (AFSL) [https://moneysmart.gov.au/glossary/australian-financial-services-afs-licence] to expand its payment offering in the country.
In a statement, Fiona Murray, Ripple’s managing director for the Asia Pacific region, said Australia was a key market for the platform, and an AFSL strengthened the company’s ability to scale Ripple Payments across the region.
In the past few years, the blockchain-based digital payment platform has secured more than 75 licences in jurisdictions worldwide, including the UAE, Ireland, Japan, Singapore, Japan, New York, the European Union, UK, and Cayman Islands, among others.
Approval of its AFSL application would enable it to gain a firm foothold in Asia Pacific.
Acquisition for Starters
Ripple’s strategy to obtain the licence has been to first acquire BC Payments Australia Pty Ltd.
BC Payments, a subsidiary of Banking Circle Australia [https://bankingcircle.com.au], was established in 2023 to provide to provide payment solutions to Australian fintechs, payment businesses and banks.
It largely came into being to help these entities extend their geographic reach by reducing costs and boosting the speed of non-domestic payments.
It therefore aligned perfectly with Ripple’s own reputation as an affordable payment solution.
Once the acquisition is completed and an AFSL secured, Ripple will be empowered to manage onboarding and compliance through funding, forex, liquidity management, and final payouts.
Australia’s Big Appetite
While the XRP to USD price continues to endure a rocky patch, Ripple’s payment-solutions appeal remains high.
It is particularly so in Australia, where the crypto economy is growing rapidly and aligning with reputed blockchain-based platforms is very much in vogue.
Recent data from blockchain intelligence platform TRM Labs shows that between March 2025 and February 2026, Australian crypto entities processed $50 billion in total on-chain transaction volume.
The puts Australia at Number 20 on a global list of 95 tracked countries for total crypto value received.
Ripple’s imminent regulatory arrival in Australia carries low risk, according to TRM.
It says Australia was one of the earliest jurisdictions to bring digital currency exchanges under anti-money laundering regulation.
“Law enforcement agencies have increasingly integrated blockchain analysis into investigative workflows. Policymakers are also advancing reforms to clarify the regulatory treatment of digital asset platforms, custodians, and stablecoin issuers,” the platform says in its analysis of prevailing conditions.
Brazilian Beat
Australia was not the only country on which Ripple set its sights in early 2026.
Like the Antipodean nation, Brazil has shown strong enthusiasm for blockchain-based payment solutions and the company was quick to respond.
Here, too, Ripple applied for a regulatory mandate, namely the Virtual Asset Service Provider (VASP) licence.
Several Brazilian fintech companies and financial institutions use Ripple to address real-world liquidity and payment issues, and it is all but guaranteed that the VASP licence will be approved by the Central Bank of Brazil.
Licensing No-Brainer
Ripple is aggressively pursuing regulatory licences for one reason: it aims to transition from a crypto-native firm into a regulated institutional financial infrastructure provider.
Since institutional interest in digital assets and transactions has never been greater, it is a no-brainer for the company that has made its name on its ability to bridge traditional finance with blockchain technology.
