In brief
- Brisbane-based Swyftx will gain a U.S. foothold through Caleb & Brown’s private client brokerage model.
- The acquisition follows Swyftx’s recent deal to buy New Zealand’s Easy Crypto, broadening its regional reach.
- CEO Jason Titman says easing U.S. policy under Trump could accelerate crypto M&A and boost investor appetite.
Australian crypto exchange Swyftx is set to acquire boutique digital asset brokerage Caleb & Brown, in what the companies described as the largest crypto acquisition in Australia and New Zealand to date.
The deal, which was formally disclosed to staff last week, is expected to significantly expand Swyftx’s reach into the U.S., where Caleb & Brown has built a client base among high-net-worth crypto investors.
A source, speaking on condition of anonymity, told Decrypt that the value of the deal is worth over AU$100 million (more than US$65.8 million).
The acquisition comes three months after Swyftx agreed to buy New Zealand’s largest crypto exchange, Easy Crypto, and will give the company the broadest geographic reach among Australian exchanges. The Swyftx group will employ just under 300 team members on completion of the deal, Decrypt was told.
Spartan, a specialist blockchain investment and advisory firm with offices in Singapore and Hong Kong, served as the financial advisor to Swyftx.
The U.S., under President Donald Trump, has been actively pushing for more favorable industry regulations, including those related to stablecoins and market structure, a move many say is making it easier for firms to do business there.
“A lot of fear over U.S. crypto policy has melted away under the Trump administration,” Jason Titman, CEO of Swyftx, told Decrypt. 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.”
Titman also said he expects to see a “meaningful uptick in crypto M&A” this year.
“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.
Melbourne-based Caleb & Brown, founded in 2016, offers personalized one-on-one trading services and currently holds more than $2 billion in digital assets under custody.
The brokerage maintains compliance with Australian regulatory requirements, including Know Your Customer and Anti-Money Laundering obligations.
The firm asserts that client assets are held on a 1:1 basis, not commingled, traded, or lent out, and are secured in cold storage with the assistance of custody partner Fireblocks. Additionally, the company has previously said it has engaged an auditor to produce annual financial audits.
As of now, the firm has not released any audited financial statements to the public, according to the company's official communications, including its blog and help center.
In any case, its U.S. presence and private client model will enable Swyftx to compete for high-value customers on American exchanges, a strategic focus for the Brisbane-based firm as it seeks to expand its footprint beyond Australia and New Zealand.
Swyftx, meanwhile, intends to scale Caleb & Brown’s relationship manager team and position the combined group as an alternative for wealthy investors seeking tailored, round-the-clock support, Decrypt was told.