Beyond Spot Trading: Swyftx Secures License to Revolutionize Crypto Payments
Swyftx is pivoting its core strategy after securing a major Australian Financial Services License (AFSL), signaling a departure from being a pure crypto spot exchange. This regulatory milestone allows the fintech to compete directly with industry leaders like Coinbase and Crypto.com by expanding into complex financial sectors.
By obtaining authorization for non-cash payment facilities and derivative products—such as crypto options and futures—Swyftx is positioning itself to capture the growing demand for business and retail payment services. Interim co-CEO Andrea Yuen highlighted that the move is a strategic response to local credit card surcharging changes, paving the way for massive crypto payment integration.
Australian crypto exchange Swyftx has announced it will aggressively pursue opportunities in the crypto payments space following the acquisition of a key license from Australia’s market regulator. On Wednesday, the company confirmed it received its Australian Financial Services License (AFSL), placing it in the same league as Coinbase, BTC Markets, and Crypto.com.
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