Top Australian Crypto Exchange Swyftx Expands to New Zealand

The move marks the exchange’s first attempt at an expansion outside Australia.

Aug 31, 2021 at 6:34 a.m. UTC
Updated Aug 31, 2021 at 5:39 p.m. UTC

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

One of Australia’s largest crypto exchanges by total users has branched out to neighboring country New Zealand.

  • New Zealand users can now hold an account on the Swyftx exchange with New Zealand dollars and may utilize deposits via local bank transfers, according to a blog post on Monday.
  • The exchange has also set up a network of local New Zealand support staff to field customer queries.
  • New Zealand has been on Swyftx’s radar for “some time,” the exchange said in a separate blog post. Recent partnerships and regulations have paved the way for Swyftx to support NZD on the platform, it said.
  • Many existing exchanges in New Zealand are limited and act as a “pass-through” for user’s funds, Swyftx said in its post. Like most exchanges, Swyftx passes on a fee for withdrawals imposed by its banking partners while local deposits take one to three business days.
  • Swyftx is the country’s second-largest exchange, with over 350,000 customers. The move marks the exchange’s first attempt at an expansion outside Australia.
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Sebastian Sinclair is a CoinDesk news reporter based in Australia.

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

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