- Deal gives Swyftx access to $2B assets, wealthy U.S. client network.
- Acquisition follows Easy Crypto buy, lifts Swyftx user base to 1.1M.
- CEO says clearer U.S. crypto rules make global expansion more achievable.
Swyftx, a crypto exchange based in Brisbane, has announced a big move in the digital asset space. The company plans to acquire Caleb & Brown, a boutique crypto brokerage from Melbourne, for over AU$100 million (around USD 65.8 million).
Swyftx Eyes U.S. Expansion Using Caleb & Brown’s Wealthy Client Base
Caleb & Brown has the reputation of providing high-end services to a rich investor in cryptocurrencies. The company is said to have close to 2 billion digital assets that are entrusted to its possession. This qualifies it as one of the largest crypto-broking trading names within Australia.
This transaction was announced to workers last week. It is likely to be the biggest crypto acquisition that has been seen in Australia and New Zealand, many in the industry say. This indicates how serious Swyftx is in expanding and reinforcing its presence in the crypto environment.
This new deal will have the potential to expand not only the operations of Swyftx locally. It will also assist the company to branch into the U.S market. Caleb & Brown already enjoys a wide network of high-net-worth clients in America. Through this acquisition, Swyftx gets the obvious way of reach out to these U.S. investors.
The present action follows an even larger transaction made by Swyftx. The company recently acquired Easy Crypto, the biggest crypto trading platform in New Zealand, just three months ago. That transaction attracted an additional 350,000 users that have bringing the total number of users of Swyftx to around 1.1 million.
Jason Titman, the CEO of Swyftx, spoke in his opinion about this ambitious expansion. According to him, this acquisition was more interesting because of the improved crypto regulations in the U.S. Improved regulations will raise confidence in the market and make it possible for companies such as Swyftx to serve American customers more easily.
Swyftx Expansion Aims To Lead Global Crypto Brokerage Market
The crypto is also getting increased attention from the U.S. government. The President’s working group is to announce a report on crypto soon. There is an opinion of many specialists that this report can unlock the path toward still greater numbers of crypto deals and associations in the U.S. This is an indication that the time is right for Swyftx.
With this deal, Swyftx wants to offer a premium service to Caleb & Brown clients. The company has a strategy of expanding the private client services in the brokerage. This means rich investors will get white-glove service with extra care and help. The customers are going to have all their money kept on the 1:1 proportions, which means that every coin a customer possesses, Swyftx will keep another one safe. These assets will be held on Fireblocks, a reliable digital custodial platform.
This new step shows that Swyftx is not playing games to become a global company. Swyftx has the opportunity to access great talent, valuable customers, and direct entry into the American market by acquiring Caleb & Brown into its team.
This is only the beginning, as many feel. The boisterous expansion strategy of Swyftx indicates that the organization desires to be the pioneer in the cryptocurrency industry as it continues to advance. The question now will be what Swyftx can do next as investors and users await it patiently.
As Swyftx sees it, more deals, better technology, and unambiguous rules will help it remain on top and make cryptocurrency friendlier and safer for all.
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