tl;dr
Australian cryptocurrency exchange Swyftx has acquired New Zealand's largest digital asset platform, Easy Crypto, expanding its customer base to 1.1 million. The undisclosed deal aims to support regional expansion and new product development. Swyftx plans to integrate both businesses over the next 1...
Australian cryptocurrency exchange Swyftx recently made a significant move by acquiring New Zealand's largest digital asset platform, Easy Crypto. This strategic acquisition has resulted in Swyftx expanding its customer base to an impressive 1.1 million users. The undisclosed deal underscores Swyftx's commitment to regional expansion and the development of new innovative products in the crypto market.
Over the next 18 months, Swyftx plans to seamlessly integrate both Easy Crypto and Swyftx platforms while prioritizing an exceptional customer experience and empowering users with financial freedom. This acquisition marks one of the largest mergers in the ANZ crypto market and paves the way for a synergistic collaboration between the two leading exchanges.
Founded in 2018, Easy Crypto has amassed over NZ$3.5 billion in sales, establishing itself as a key player in the New Zealand market. The platform offers a non-custodial trading platform, a New Zealand dollar stablecoin (NZDD), and self-custody wallet services, catering to the diverse needs of crypto enthusiasts. Swyftx's Chief Executive, Jason Titman, believes that this strategic acquisition will not only support the firm's regional expansion but also enable them to introduce new products and tap into emerging markets.
Easy Crypto's CEO and co-founder, Janine Grainger, expressed excitement about the acquisition, highlighting how it aligns with their vision to democratize access to digital assets. While both companies will continue to operate independently in the short term, they ultimately plan to merge services under the Swyftx brand, consolidating their offerings for a seamless user experience.
With nearly 200 employees combined, the new Swyftx-Easy Crypto entity is poised to drive innovation and unlock new opportunities in the ever-evolving crypto landscape. This acquisition not only solidifies Swyftx's position as a key player in the industry but also paves the way for exciting developments that will benefit crypto enthusiasts across Australia and New Zealand.