Ripple targets April for Australian financial license via acquisition
Ripple APAC managing director Fiona Murray said there was sufficient institutional interest in Australia to warrant the costs of acquiring an Australian Financial Services License.
Crypto company Ripple said it is set to secure a key financial services license in Australia through the acquisition of an Australian payments firm, adding to an international license grab over the last year.
In a statement on Tuesday, Ripple said it will buy BC Payments Australia, a corporate entity tied to the European Banking Circle Group, allowing it access to the company’s Australian Financial Services License (AFSL), which is set to become a requirement for certain crypto companies to provide financial services in the country.
The acquisition of BC Payments Australia is set to close on April 1, according to a report from The Australian, citing comments from Ripple APAC managing director Fiona Murray.
