The post Ripple Pushes for Australian License Through BC Payments Purchase appeared first on Coinpedia Fintech News
Ripple Labs is set to obtain the Australian Financial Services License (AFSL) through its purchase of BC Payments in an April 1 deal.
This will expand the company’s footprint in Australia, where it is already providing fast and efficient enterprise-grade cross-border remittance services.
According to Ripple’s Vice President and Managing Director of Asia-Pacific, Fiona Murray, the license will allow the company to scale in a region where its payment volume nearly doubled in 2025.
Several partnerships contributed to this, including that with Hai Ha Money Transfer and the crypto brokerage Caleb & Brown, among others.
Ripple securing institutional use case
This year, Ripple obtained conditional approval to establish the Ripple National Trust Bank (RNTB) from the US Office of the Comptroller of the Currency (OCC). Despite facing strong scrutiny from major banking institutions, Ripple became one of several other crypto-related firms to obtain such a charter. It has also acquired operational licenses from both the European Union and the United Kingdom.
Ripple plans to launch the first XRP Income ETF on US markets today, with a later launch of its native stablecoin, RLUSD, in Japan. The XRP community is now voting on whether XRP and RLUSD should bear interest on the Ripple ledger.
In Australia, the company is preparing to release its report on Project Acacia – a research initiative exploring the integration of digital currencies with existing payment systems.
XRP price action
At press time, XRP was trading at $1.38, up 1.25% in the last 24h, driven by speculation of a positive regulatory outcome in Japan and the token’s institutional utility.
Should XRP hold above the 78.6% Fibonacci level ($1.36), it might test resistance at $1.42-$1.47. If it fails, then the token may risk a retest of the $1.33 support level. Near-future price action is also dependent on the US Consumer Price Index (CPI) data release scheduled later today.
Source: CoinMarketCap
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