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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.<\/p>\n
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<\/a> 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. <\/p>\n 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\u2019s 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. <\/p>\n <\/p>\n This latest acquisition comes just three months after Swyftx moved to acquire New Zealand\u2019s largest exchange, Easy Crypto, a deal that added 350,000 users to its platform and brought its total customer base to 1.1 million. <\/p>\n