TechFlow News, March 11: According to The Block, Ripple announced plans to acquire BC Payments to obtain an Australian Financial Services Licence (AFSL), further expanding its business presence across the Asia-Pacific region.
The AFSL acquired through this acquisition will enable Ripple to offer its Ripple Payments end-to-end payment platform in the region. This platform manages the “entire lifecycle” of transactions and integrates traditional banking and cryptocurrency services. Fiona Murray, Ripple’s Managing Director for Asia-Pacific, stated that Australia is a key market for Ripple and that the AFSL will strengthen the company’s ability to scale Ripple Payments across the region.
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