Australian Crypto Exchange Swyftx to Acquire Digital Asset Brokerage Caleb & Brown for Approximately $65.8 Million
PANews reported on July 1 that according to Decrypt, Australian crypto exchange Swyftx will acquire boutique digital asset brokerage Caleb & Brown, which is regarded as the largest cryptocurrency acquisition in Australia and New Zealand to date. The deal was disclosed to employees last week and is expected to significantly expand Swyftx's business in the United States, as Caleb & Brown has accumulated a client base of high-net-worth cryptocurrency investors in the United States. According to anonymous sources, the acquisition deal is worth more than 100 million Australian dollars (about 65.8 million US dollars). Three months ago, Swyftx also agreed to acquire Easy Crypto, the largest cryptocurrency exchange in New Zealand. After the transaction is completed, its geographical coverage will be the widest and the team members will be close to 300. Caleb & Brown was founded in 2016 and custody more than $1.2 billion in digital assets. Swyftx intends to expand Caleb & Brown's team of relationship managers and position the merged group as an alternative for wealthy investors seeking customized, around-the-clock support.
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