PANews reported on March 11 that, according to Cointelegraph, Ripple announced it will acquire Australian payments company BC Payments Australia, with the transaction expected to close on April 1, thereby obtaining the company's Australian Financial Services License (AFSL). Ripple's Managing Director for Asia Pacific stated that institutional interest in digital assets in Australia is sufficient to support this investment, and with the license, Ripple Payments will be able to manage the entire transaction lifecycle, integrating traditional banking tracks with digital assets.