Australian crypto broker Swyftx is set to acquire New Zealand crypto exchange Easy Crypto, with one of the CEOs nodding at positive crypto policy changes in the United States.
Swyftx CEO Jason Titman said in a March 19 statement that they see “Trump’s policy messaging around crypto as a tailwind” for this deal.
He told Cointelegraph that Swyftx’s deal with Easy Crypto was underway before Trump was elected, but now we are on “the cusp of sensible regulation in the US” that will bring liquidity and put pressure on other governments to legislate.
“Everyone is so focused on tariffs that they’re skipping the argument that good things are on the horizon for crypto,” Titman said.
“The environment for dealmaking is about to improve exponentially, and there is no question that money will move. This deal may be the first, but it won’t be the last.”
Following Trump’s inauguration on Jan. 20, some changes in the crypto industry have included several pro-crypto executives in top regulatory roles and a shift in crypto stance by the country’s securities regulator.
Titman says the crypto industry has endured a lean few years for mergers and acquisitions activity, partly because crypto CEOs were unwilling to “take the regulatory risk” they saw during the Biden administration.
“This hesitation has extended to other markets where regulators have sat on the fence and shown a lack of commitment to introducing clear legislation that supports blockchain and digital assets,” he said.
“We expect dealmaking to increase over the next few quarters and then stay elevated after that. Political administrations come and go, but rules tend to have a longer shelf life and that gives businesses the certainty they need to invest.”
Swyftx and Easy Crypto will continue to operate as separate platforms following the March 31 acquisition while the teams plan for their integration.
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The new business will have a combined workforce of just under 200 employees and operate out of Brisbane, Australia, according to Swyftx and Easy Crypto.
Janine Grainger, co-founder and CEO of Easy Crypto, told Cointelegraph that the acquisition is a “natural fit” and would create a new oceanic heavyweight to rival crypto incumbents.
“The crypto market has changed rapidly in the last four years. As the market has matured, there has been a trend of the market consolidating and strong regional and global players emerging,” she said.
An August 2024 Swyftx survey estimates there are 3.9 million Australians who own crypto out of a population of 26 million.
Meanwhile, research by Web3 consumer research firm Protocol Theory, in partnership with Easy Crypto, estimates almost 50% of New Zealand’s 5.2 million population are either current crypto investors or are considering investing in the future.
An estimated 3.9 million Australians currently own cryptocurrency, compared to 4.5 million in 2023. Source: Swyftx
In comparison, the US Fed estimates roughly 18 million people in America own or use crypto.
Grainger says there “is increasing interest in leveraging our industry” to help drive economic growth amid strong support for the industry in New Zealand.
“There is strong support for crypto locally — close to 50% of New Zealanders own, have owned or are considering future investment into crypto,” she said.
“The region is undergoing increasing levels of regulation, which will help to drive trust, much like other regions.”
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