Crypto Pioneer Invests in New Zealand's Easy Crypto Amid Regulatory Clarity

Swyftx Buys New Zealand Crypto Exchange, Citing Trump Tailwind

Swyftx, a leading Australian cryptocurrency exchange, has announced its acquisition of New Zealand-based crypto exchange, Vericoin. The move is seen as a strategic expansion into the growing cryptocurrency market in New Zealand, with Swyftx citing the positive regulatory environment created by the country's government.

The acquisition comes as the global cryptocurrency market is experiencing a resurgence in growth, fueled in part by the recent optimistic outlook on the industry from former US President Donald Trump. Trump, who has been a vocal supporter of cryptocurrency, recently stated that he believes the asset class has the potential to revolutionize the way people think about money.

"We are thrilled to be expanding our operations into New Zealand, a country that has shown a strong appetite for cryptocurrency and blockchain technology," said Kyle Scahill, CEO of Swyftx. "The country's regulatory environment has been very supportive of the industry, and we believe that our acquisition of Vericoin will help to further accelerate the growth of the market in New Zealand."

The acquisition of Vericoin is seen as a strategic move by Swyftx to expand its operations into a new market, with the company citing the country's strong economy and growing demand for cryptocurrency as key drivers of the decision.

New Zealand has been a hub for cryptocurrency activity in the Asia-Pacific region, with the country's government showing a willingness to regulate the industry and provide a supportive environment for innovation. The acquisition of Vericoin is seen as a vote of confidence in the country's ability to support the growth of the cryptocurrency market.

The terms of the acquisition were not disclosed, but Swyftx has stated that it plans to integrate Vericoin's operations into its own platform, with the aim of providing a seamless experience for customers in New Zealand. The acquisition is expected to be completed in the coming weeks, subject to regulatory approval.