Tazapay has moved closer to expanding in Australia after securing preliminary regulatory approval.

The company received in-principle approval for a retail Australian Financial Services Licence, co-founder and CEO Rahul Shinghal announced on LinkedIn.

Once formally issued, the licence would allow Tazapay to serve retail and wholesale clients locally and overseas.

The company is already registered with the Australian Transaction Reports and Analysis Centre.

Tazapay also plans to connect with the New Payments Platform and Bulk Electronic Clearing System.

These domestic networks would complement its cross-border infrastructure, which combines stablecoin rails with local payment systems.

Tazapay views Australia as an important market because of its trade links across Asia-Pacific and beyond.

Featured image: Edited by Fintech News Australia, based on image by shamaoonstudio via Magnific