Banking Circle Expands with Acquisition of Australian Settlements Limited

​Banking Circle S.A., a Luxembourg-based banking entity focused on global payments, has entered into an agreement to acquire 100% of Australian Settlements Limited (ASL), a licensed deposit-taking institution in Australia. The transaction, which remains subject to regulatory approvals and other conditions, is a key step in Banking Circle's ambition to establish a global real-time clearing and settlement hub for major currencies.

This acquisition is expected to combine ASL's local clearing and processing expertise with Banking Circle's global payment infrastructure. Laust Bertelsen, CEO of Banking Circle, noted that Australia's cross-border trade and its active banking and fintech sectors make it a valuable market. "Australia is a strategic market for Banking Circle. This acquisition reinforces our efforts to deliver cost-effective, seamless payment solutions to local and global clients," he said.

ASL has a long-standing presence in the Australian financial market, providing clearing and settlement services to banks and payment firms. Mark Tibbles, CEO of ASL, described the acquisition as an important opportunity for growth. "By joining Banking Circle, ASL can leverage global infrastructure to enhance its capabilities and better serve its clients," Tibbles stated.

Currently, Banking Circle operates in Australia through its subsidiary, BC Payments Australia Pty Ltd, which holds an Australian Financial Services Licence. With the acquisition, the company plans to introduce its full suite of payment solutions to the local market. This move is also anticipated to make Australian dollar settlement services more accessible to international financial institutions.

Mishal Ruparel, Chief Commercial Officer at Banking Circle, emphasized the alignment between the two entities. "Combining ASL's strong local expertise with our global infrastructure creates a compelling offering for financial institutions seeking faster and more efficient payment services," Ruparel commented.

The deal underscores Banking Circle's commitment to expanding its global footprint and facilitating accessible, efficient payment solutions for a wide range of clients.