In a major move aimed at cementing its dominance in the Australasian crypto market, Australian-based exchange Swyftx has completed the acquisition of New Zealand’s top digital asset platform, Easy Crypto.
This strategic acquisition positions Swyftx as one of the largest players operating across both Australia and New Zealand, bolstering its user base and market influence.
With the addition of Easy Crypto’s 350,000 registered customers, Swyftx’s total user base now surpasses 1.1 million clients.
While specific financial terms of the deal remain confidential, the merger is a significant step forward in Swyftx’s regional growth strategy.
Easy Crypto, established in 2018, has built a strong reputation in New Zealand’s crypto sector, processing over NZ$3.5 billion ($2.1 billion USD) in sales.
The platform distinguishes itself by offering non-custodial trading services alongside a suite of innovative products, including the New Zealand Dollar stablecoin (NZDD) and dedicated self-custody wallet solutions.
The acquisition is expected to enhance service offerings and regulatory compliance across the trans-Tasman region, giving Swyftx a competitive advantage as the crypto industry continues to mature in both markets.
“This partnership was a natural fit, driven by our shared vision of making crypto more accessible and empowering financial freedom across the markets we operate within,” Easy Crypto said about the partnership.
One of ANZ’s Largest Crypto Mergers
The acquisition of Easy Crypto by Swyftx stands out as one of the most significant mergers in the Australia-New Zealand crypto space in recent memory.
The move comes after a prolonged period of subdued merger and acquisition (M&A) activity as firms across the sector navigated regulatory uncertainties and volatile market conditions.
Easy Crypto’s co-founder and CEO, Janine Grainger, described the deal as a natural alignment of both companies’ values and goals. Grainger highlighted Swyftx’s consistent growth trajectory and its emphasis on user security and experience as key reasons behind the decision.
“Our mutual commitment to making digital assets more accessible and secure for everyday users made this partnership an obvious step forward,” she stated.
While the acquisition has been finalized, both exchanges will continue operating independently in the short term. Over time, their services and product offerings will merge under the broader Swyftx brand.
The newly combined entity will employ nearly 200 staff members, reinforcing its position as a leading crypto service provider in the trans-Tasman market.
Another key driver behind the acquisition is regulatory alignment. Both Swyftx and Easy Crypto have focused heavily on compliance, working closely with financial authorities to meet evolving regulatory requirements in Australia and New Zealand.
The deal comes when governments across the Asia-Pacific region are tightening crypto regulations.
By combining resources and compliance expertise, Swyftx and Easy Crypto aim to avoid potential legal challenges while providing users a secure and regulated environment.
Regional Consolidation Accelerating in Crypto Sector
Australia has proactively refined its cryptocurrency regulations to enhance consumer protection and market integrity.
The Australian Securities and Investments Commission (ASIC) has urged crypto companies to obtain an Australian Financial Services Licence (AFSL), offering a grace period during which applicants are shielded from legal action for prior breaches.
This initiative aims to ensure that digital asset services align with existing financial product regulations, fostering a more secure environment for investors.
To combat illicit activities, the Australian Transaction Reports and Analysis Centre (AUSTRAC) established a cryptocurrency task force targeting non-compliant crypto ATM providers.
This action addresses rising concerns over the misuse of cryptocurrencies for money laundering and fraud, underscoring the government’s commitment to stringent anti-money laundering (AML) measures.
Quick Facts:
- Swyftx has acquired Easy Crypto, New Zealand’s largest digital asset platform, to strengthen its presence across Australia and New Zealand.
- The deal expands Swyftx’s customer base to over 1.1 million users, adding Easy Crypto’s 350,000 clients.
- Easy Crypto, founded in 2018, has processed more than NZ$3.5 billion ($2.1 billion USD) in sales, offering non-custodial trading and stablecoin services.
- The acquisition positions Swyftx as one of the dominant crypto exchanges in the Australasian region, enhancing regulatory compliance and market influence.
