Swyftx, an Australian crypto exchange, has made a strategic move by acquiring Caleb & Brown, a digital asset brokerage based in Melbourne. This acquisition, valued at over AU$100 million, is set to pave the way for Swyftx’s entry into the U.S. market.
With Caleb & Brown boasting a significant $2 billion in digital assets under custody, the merger signifies a major milestone in the crypto industry in Australia and New Zealand. The deal, recently communicated to employees, is poised to position Swyftx as a key player in the U.S. market, thanks to Caleb & Brown’s established client base of high-net-worth individuals.
Swyftx’s plan post-acquisition involves scaling Caleb & Brown’s private client services and offering a premium, personalized experience to affluent investors. All client assets will be held on a 1:1 basis and secured using Fireblocks custody solutions, ensuring top-notch security and peace of mind for customers.
This acquisition comes on the heels of Swyftx’s recent purchase of Easy Crypto, New Zealand’s largest exchange, which added a substantial 350,000 users to its platform, bringing its total customer base to 1.1 million in just three months.
In a recent interview with Decrypt, Swyftx CEO Jason Titman highlighted the potential for increased deal-making in the U.S. crypto market, citing the potential impact of clearer regulatory conditions under the Trump administration. Titman expressed optimism about the forthcoming report from the President’s working group on crypto, suggesting that it could catalyze a wave of transactions and investments in the American market.