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Quick take:
The acquisition gives Swyftx access to the U.S. market through Caleb & Brown’s private client brokerage model.
The deal is reportedly worth AU$100 million (more than US$65.8 million), according to anonymous sources.
Singapore-based blockchain advisory firm Spartan served as the financial advisor to Swyftx.
Swyftx is accelerating its global expansion amid high expectations that the Trump-led administration will usher in a clearer regulatory framework for crypto companies.
According to the announcement, the Brisbane, Australia-based crypto exchange company has acquired Caleb & Brown’s private client brokerage platform, giving it a foothold in the U.S. market. The company had formerly disclosed the acquisition to staff last week.
It comes on the heels of Swyftx’s merger with New Zealand-based Easy Crypto to form “an Australasian crypto powerhouse.”
The acquisition is reportedly worth AU$100 million (more than US$65.8 million), according to anonymous sources. Singapore-based blockchain advisory firm Spartan served as the financial advisor to Swyftx.
The acquisition comes at an opportune time as the U.S. gears up to become a leader in crypto adoption by introducing a clear regulatory framework for digital assets.
“A lot of fear over U.S. crypto policy has melted away under the Trump administration,” Jason Titman, CEO of Swyftx, told Decrypt, adding that “not only reduces the risk that businesses see in entering the market, it also makes crypto a more appealing asset for American investors who don’t currently own crypto.”
According to Tillman, there should be an uptick in crypto M&As, following Trump’s directive to expedite crypto legislation.
“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,” he said.
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