Six months after Australia’s Swyftx acquired New Zealand's Easy Crypto in March 2025 for A$32.97 million, recent internal changes have led to job losses and significant organizational restructure.
Sources indicate that all Easy Crypto roles have been de-established, with offers extended to most staff under revised terms at Swyftx - highlighting integration challenges in the trans-tasman crypto sector.
Swyftx's acquisition has created a combined platform serving over one million customers across Australia and NZ, with public announcements focusing on expansion, greater access to digital assets and additional services.
However, behind the scenes, there’s been a focus on integration, cost reduction and centralizing the merged businesses around Brisbane.
Brisbane Takes the Wheel
Cuts of New Zealand based management roles have been at the core of the restructure, with most middle management positions at Easy Crypto eliminated to enforce Swyftx's Brisbane-based operational model.
"Swyftx recently entered into a consultation process with 11 Easy Crypto staff in New Zealand, Australia, Malaysia and Indonesia, with the potential for disestablishment of these roles. This followed the integration of our businesses in these markets as we streamline our structure and focus on delivering a unified, efficient offering for customers across the region. In New Zealand, four roles were part of this consultation process, alongside two in Malaysia, two in Indonesia and three in Australia. We have made the difficult decision to disestablish these roles and our focus at this time is on supporting all affected team members throughout this process,"
Sources share positions within 100km of Swyftx's Brisbane HQ mandate two days per week in-office to enhance culture and productivity - highlighting discrepancies in NZ/Aus pay grades and difficulties migrating across NZ staff.
Jason Titman, CEO of Swyftx
SwyftX’s Interests in New Zealand
Swyftx, alongside at least half a dozen other international exchanges, have failed to secure bank accounts in NZ due to the banking de-risking crisis.
The Australian titan instead acquired Easy Crypto to avoid direct competition while mainlining the elusive bank account needed to operate in the country.
The acquisition has resulted in the creation of the largest platform in Australasia with 1.1m users, establishing a stronghold against other international competitors and equivalents seeking to capture the trans-tasman market.
"Easy Crypto is a high quality, trusted and innovative business in a market that will rapidly grow over the next few years.” said Titman in a press release.
“We have wanted to expand our presence in New Zealand for some time. Australasia needs a large, homegrown exchange to compete with international offerings and this deal creates exactly that.”
For NZ users and staff, the changes signal a loss of local autonomy. As Swyftx's first major acquisition, these moves reflect broader consolidation trends, where regional players risk absorption by larger entities.
Disclosure: Cryptocurrency NZ receives sponsorship funding from Easy Crypto. However, our editorial code remains independent and in community interests. This article is based on verified information.