Australian crypto exchange Swyftx is set to acquire digital asset brokerage Caleb & Brown in a major move to establish a foothold in the U.S. market.
Brisbane-based crypto exchange Swyftx is set to acquire Caleb & Brown, a Melbourne-based boutique digital asset brokerage with a reported $2 billion in digital assets under custody, in a deal reported to be worth over AU$100 million (over $65.8 million). The agreement, which was formally disclosed to employees last week, marks what is believed to be the largest crypto acquisition to date in Australia and New Zealand.
The merger is expected to give Swyftx a significant entry point into the U.S. market, where Caleb & Brown has cultivated a client base of high-net-worth individuals through its personalized brokerage model. The company plans to scale Caleb & Brown’s private client services and offer a premium, white-glove experience to affluent investors, with all client assets reportedly held on a 1:1 basis and secured via Fireblocks custody solutions.
This latest acquisition comes just three months after Swyftx moved to acquire New Zealand’s largest exchange, Easy Crypto, a deal that added 350,000 users to its platform and brought its total customer base to 1.1 million.
In an interview with Decrypt, Swyftx CEO Jason Titman pointed to improving U.S. regulatory conditions under the Trump administration as a catalyst for increased deal-making in the sector, adding that clearer rules 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, and it could open the flood gates to a lot of U.S.-focused crypto deal-making.”