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Swyftx Acquires Caleb & Brown
Swyftx Acquires Caleb & Brown

Transaction Overview

On July 1st, 2025, Swyftx, one of the largest Australian cryptocurrency exchanges, announced a definitive agreement to acquire Caleb & Brown, a high-net-worth-focused crypto brokerage, for an undisclosed amount.

 

Target: Caleb & Brown

Caleb and Brown is a Melbourne-based, high net worth focused crypto brokerage that specializes in personalized trading services across the digital asset landscape. Caleb & Brown focuses on the relationship model used successfully across traditional  financial services – every client that comes onto their platform gets assigned a broker to assist them in executing trades  and handling all customer service needs. Caleb and Brown’s core services include 1) Brokerage Services, which provide personalized 24/7 trading support for 250+ digital assets, 2) an OTC Desk, which provides high volume trading solutions with deep liquidity and competitive pricing, 3) the Caleb and Brown Asset Management, an actively managed crypto asset fund for accredited investor, 4) crypto custody. 

 

The business has more than AUD $2 billion of digital assets under custody and was founded by Rupert Hackett and Dr. Prash Puspanathan in 2016. C&B is led by CEO Jackson Zeng and has 64 team members across both Australia and the US. Caleb & Brown has not raised any outside capital. 

 

Architect Partners’ Observations

Architect Partners acted as the exclusive financial advisor to Caleb & Brown. 

 

Swyftx’s acquisition of Caleb & Brown marks the largest acquisition targeting high net worth crypto investors. It also reflects two important shifts in the evolution of crypto exchanges, particularly within the ANZ region.

 

First, high-net-worth client service is becoming a strategic differentiator. Exchanges are beginning to recognize that personalized brokerage and deep client relationships offer a competitive advantage while greatly reducing attrition. This is a model that high-net-worth clients are accustomed to in their financial lives. Caleb & Brown’s approach, which assigns a dedicated broker to every client, stands apart from the high-volume, low-touch models that dominate the market. Swyftx gains access not only to clients but also to an established business model that emphasizes trust, service, and retention in a way few crypto exchanges have pursued.

 

Second, this is a milestone moment for ANZ crypto M&A. While there have been many plays for global expansion by exchanges, this is the first of its kind in Australia moving into the US, signaling that the region is entering a more active phase of market maturity. 

 

We believe this transaction will serve as a catalyst for further strategic activity to expand globally and to augment services as companies seek differentiation in both product and customer segments.

 

Strategic Rationale

Swyftx is acquiring Caleb & Brown to expand into the United States via C&B’s regulatory framework, and to acquire the relationship model inherently required with a higher-tier customer base. This acquisition will grant Swyftx entry into the U.S. 12 to 24 months faster than otherwise possible organically. Furthermore, the acquisition diversifies Swyftx’s primarily retail client base to include 25k+ high net worth individuals in numerous countries. 

 

“Caleb & Brown has quietly established one of the most impressive brokerage offerings in the world, with a heavily differentiated private client service. We see enormous growth potential.” – Jason Titman

METHODOLOGY

The Architect Method

With hands-on senior leadership, our approach delivers premium value in emerging tech-driven markets.

Preparation

KNOWING THE CONTOURS OF THE TERRAIN AND SPEAKING THE LANGUAGE.

We live and breathe the front lines of tech-driven disruption. We are in constant dialog with key players, publish data-driven analysis, and identify patterns and opportunities as they develop. With decades of transaction successes, the Architect Team moves at the speed of emerging markets, constantly analyzing and mapping new territories as they evolve.

 

  • Crypto focus
  • Deep acquirer & investor relationships
  • Unique industry insights
  • Expertise honed through multiple market cycles

Calibration

CRAFTING THE NARRATIVE TO CLEARLY COMMUNICATE STRATEGIC FIT.

Every successful acquisition or financing is built on a great story. We’ve honed classic storytelling models to calibrate company narratives to fit with specific acquirer strategic needs. In constant contact with the major players, we understand how they view the market. At the core, we artfully match buyer needs with solutions.

 

  • Crystal clear value propositions
  • Articulating future value
  • Speaking in plain English
  • Messaging tailored to each specific target

Execution

RELENTLESS DRIVE.

Transaction execution is an art that requires both experience and crisp execution. We’ve seen it all, so we know in advance what to expect and how to guide our clients through complex situations. The other half of the formula is plain hard work – we are highly detail-oriented and relentless in driving to premium outcomes.

 

  • Hands-on engagement from senior partners
  • Targeting the right decision makers
  • Full transparency with clients on all conversations
  • Meticulous process management

Emergent sectors require logical

frameworks to bring order to the chaos.

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