Swyftx Acquires Easy Crypto: A New Era for Crypto in NZ

In a significant move for the cryptocurrency landscape, Australian crypto broker Swyftx has announced its acquisition of New Zealand’s Easy Crypto. This strategic decision comes at a time when the industry is poised for growth, largely influenced by positive regulatory changes in the United States. Swyftx CEO Jason Titman shared insights on how these developments are expected to create numerous opportunities for the crypto sector.

Positive Regulatory Changes in the U.S.

According to Titman, the acquisition was already in the works prior to the recent shifts in U.S. crypto policy. He expressed optimism about being on “the cusp of sensible regulation in the US,” which he believes will enhance liquidity in the market and encourage other governments to adopt similar legislative frameworks. The inauguration of former President Donald Trump on January 20 has seen a wave of pro-crypto executives appointed to key regulatory positions, signaling a potential shift in the regulatory landscape.

Impact on Mergers and Acquisitions

For the past few years, the crypto industry has experienced a slowdown in mergers and acquisitions, primarily due to the reluctance of crypto CEOs to engage in what they perceive as regulatory risks. Titman noted that this hesitation has not only affected the Australian market but has also extended to other regions where regulatory bodies have been indecisive. He stated, “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.”

However, he anticipates a surge in deal-making activity over the coming quarters, suggesting that the political landscape may change, but the rules established will provide businesses with the certainty needed to invest. “Political administrations come and go, but rules tend to have a longer shelf life,” he added.

Easy Crypto: A Natural Fit

Janine Grainger, co-founder and CEO of Easy Crypto, echoed Titman’s sentiments, describing the acquisition as a “natural fit.” She believes that this merger will create a formidable oceanic player capable of competing with established 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,” Grainger stated.

New Zealand’s Growing Crypto Adoption

Research conducted by Web3 consumer research firm Protocol Theory, in collaboration with Easy Crypto, reveals that nearly 50% of New Zealand’s 5.2 million residents are either current crypto investors or are contemplating future investments. Grainger emphasized the strong local support for cryptocurrency, noting, “There is strong support for crypto locally — close to 50% of New Zealanders own, have owned, or are considering future investment into crypto.”

Market Trends and Insights

The acquisition of Easy Crypto by Swyftx is not just a merger of two companies; it represents a broader trend in the cryptocurrency market where consolidation is becoming increasingly common. As the industry matures, the emergence of strong regional and global players is expected to reshape the competitive landscape.

In addition to the acquisition, the weekly snapshot of key business trends in blockchain and crypto provides valuable insights into the evolving market. From startup buzz to regulatory shifts, staying informed is crucial for navigating the crypto landscape and identifying financial opportunities.

Conclusion

The acquisition of Easy Crypto by Swyftx marks a pivotal moment for the cryptocurrency industry in New Zealand. With favorable regulatory changes in the U.S. and a growing local interest in crypto, the future looks promising for both companies. As the market continues to evolve, stakeholders will need to adapt to the changing dynamics and seize the opportunities that arise.