The Australian cryptocurrency exchange Swyftx has reportedly acquired one of New Zealand’s top crypto exchanges, Easy Crypto, for an undisclosed sum. The acquisition is expected to create the Australasia region’s second-largest crypto exchange platform by traded volumes.

According to a local report, the combined entity will operate as Swyftx, with Easy Crypto, founded by siblings Alan and Janine Grainger, set to be retired. Commenting on the decision, which she described as the “right one,” Janine Grainger said:

But also the positioning of the market for a recovery looked like a good opportunity for us to look at a merger, and there is a trend toward increasing mergers and acquisitions in the crypto industry, which we thought we could leverage.

She added that growing costs, increased regulatory scrutiny, and security issues were other factors that convinced Easy Crypto’s board to make the strategic decision back in 2023. For his part, Swyftx CEO Jason Titman said the acquisition would accelerate growth for both firms and provide the region with a large, “world-class homegrown” exchange that would compete with international offerings.

Titman also claimed that Australia’s upcoming crypto regulation will benefit users in New Zealand, which has yet to issue crypto-specific regulations. As previously reported by Bitcoin.com News in late 2024, the Australian Securities and Investments Commission (ASIC) released a consultation paper asking residents to share their feedback on proposed updates to Information Sheet (INFO) 225 on crypto assets.

The consultation period ran until Feb. 28, 2025, and ASIC is expected to publish an updated version of INFO 225 by mid-2025. The Swyftx CEO expressed optimism that enhanced regulation will likely support further growth in the sector.

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