Swyftx eyes crypto payments after securing Australian license
Swyftx has obtained an Australian Financial Services License, putting it among a small group of licensed crypto firms and allowing it to offer derivatives and payment-related services, though not spot crypto under the license. The exchange says it plans to move beyond being a pure spot platform and focus on crypto payments and stablecoins, especially as Australia’s new ban on card surcharges for Visa and Mastercard payments may push merchants toward cheaper payment rails. Swyftx also wants to expand overseas, using a regulated Australian base to grow in markets such as New Zealand, the US, and potentially the UK. The AFSL regime becomes mandatory for most crypto firms in 2027, with ASIC extending the application grace period to Sept. 30 and reporting about 30 applications so far. Separately, a survey found Australian crypto ownership has risen to 33%, with Bitcoin still the most commonly held asset.
