Swyftx Acquires Caleb & Brown for AU$100 Million to Expand U.S. Presence

Swyftx, an Australian crypto exchange, has announced its acquisition of Caleb & Brown, a Melbourne-based digital asset brokerage, in a deal valued at over AU$100 million (approximately $65.8 million). This acquisition is significant as it represents the largest crypto deal to date in Australia and New Zealand. The move is strategically aimed at expanding Swyftx's presence in the U.S. market, where Caleb & Brown has established a strong client base of high-net-worth individuals through its personalized brokerage services.

The acquisition is expected to provide Swyftx with a substantial entry point into the U.S. market. Caleb & Brown's client base, which includes affluent investors, will benefit from Swyftx's plans to scale Caleb & Brown’s private client services. This will offer a premium, white-glove experience to these investors, with all client assets held on a 1:1 basis and secured via Fireblocks custody solutions. This acquisition comes just three months after Swyftx acquired New Zealand’s largest exchange, Easy Crypto, which added 350,000 users to its platform and brought its total customer base to 1.1 million.

Swyftx CEO Jason Titman highlighted the improving regulatory conditions in the U.S. as a key factor driving this acquisition. He noted that clearer rules and regulations could spark a surge of transactions in the American market. The President’s working group on crypto is due to report before the end of this month, which could open the floodgates to more U.S.-focused crypto deal-making. This acquisition underscores Swyftx's aggressive expansion strategy and its commitment to becoming a leading player in the global crypto market.