International Bank of Australia will be a global payments bank, licensed in Australia, that will provide banking and payments services to support the increasing global mobility of capital, commerce and people. The company received it's Restricted Authorised Deposit-taking Institution licence on 2nd November, 2022. As a Restricted ADI, International Bank of Australia will be conducting limited banking business within a controlled pilot, prior to an expected full public launch on receiving its full ADI licence within the coming 24 months.