Ripple accelerates Asia-Pacific expansion with Australian license application, XRP retail demand heats up, ETF capital structure draws attention

On March 11, it was reported that Ripple is accelerating its strategic expansion in the Asia-Pacific region. The company plans to acquire BC Payments Australia Pty Ltd to apply for an Australian Financial Services License (AFSL), further expanding its cross-border payments and blockchain infrastructure business. The transaction is still subject to regulatory approval. Once approved, Ripple will be able to offer compliant digital asset payment services to Australian banks, fintech companies, and corporate clients.

Fiona Murray, Managing Director of Ripple Asia-Pacific, stated that Australia is an important market for the company in the region. Obtaining the AFSL will help enhance Ripple Payments’ local capabilities. Using blockchain technology and digital asset networks, the company aims to provide faster, more transparent, and reliable cross-border fund transfer solutions. Currently, Ripple has established partnerships with several Australian companies, including Hai Ha Money Transfer, Stables, Caleb & Brown, Flash Payments, and Independent Reserve.

Meanwhile, Ripple holds over 75 regulatory licenses worldwide and processes cross-border payments in more than 60 markets, with a total transaction volume exceeding $100 billion. Data shows that Ripple’s payment transaction volume in the Asia-Pacific region is expected to double by 2025. Additionally, the company is involved in Project Acacia, a regulatory research initiative jointly promoted by the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre.

As institutional business continues to grow, market demand for XRP shows a clear retail-driven characteristic. Data indicates that by December 31, 2025, the assets under management of XRP-related ETFs are approximately $1.342 billion, with only about 15.9% held by institutional investors who file 13F reports. In comparison, Bitcoin and Ethereum ETFs have significantly higher institutional participation.

Bloomberg Intelligence senior research analyst James Seyffart pointed out that even during price corrections, XRP ETFs maintain relatively stable capital levels, with the main buyers likely being a large number of retail investors who have not submitted 13F reports.

Regarding institutional holdings, disclosed data shows Goldman Sachs holds about $153.8 million worth of XRP (approximately 83.6 million tokens), Millennium Management holds about $23 million, and Logan Stone Capital holds about $5.3 million.

On-chain data also indicates active retail demand. Analyst Darkfost noted that recent XRP withdrawal transactions have increased significantly, with some days seeing over 14,000 withdrawals. Large transfers to private wallets are often viewed as long-term holdings and may reduce market selling pressure.

Analysts believe that Ripple’s expansion of its institutional-grade payment network and the growth of retail demand for XRP are creating a “dual-track” development pattern. Institutions focus more on Ripple’s compliant payment infrastructure, while retail investors are more interested in trading opportunities and market performance. If Ripple’s cross-border payment network further expands and increases real-world use cases for XRP, these two forces may gradually converge, providing longer-term value support for the ecosystem.