Swyftx secures Australian licence for payments expansion

• Swyftx has received an Australian Financial Services Licence, allowing it to offer derivatives and payment services.
• The exchange said it plans to expand into crypto payments as Australia prepares to ban card payment surcharges from Oct. 1.
• Swyftx said it also intends to use its regulated Australian business as a base for international expansion.

Swyftx has secured an Australian Financial Services Licence (AFSL), allowing the cryptocurrency exchange to offer derivatives and payment services as it expands beyond spot crypto trading.

The licence permits Swyftx to provide retail crypto derivatives and non-cash payment facilities, while Australia's new rules banning Visa and Mastercard payment surcharges from Oct. 1 are expected to increase demand for lower-cost payment options.

“Swyftx won’t be a pure crypto spot exchange in future,” said Swyftx interim co-CEO Andrea Yuen.

Yuen said the company sees an opportunity for crypto payments and stablecoins to reduce merchant transaction costs, while adding that Swyftx plans to use its regulated Australian business as a foundation for overseas expansion.

Following the announcement, Swyftx did not disclose any financial impact from the licence, while the company said it continues to serve customers in Australia, New Zealand and the United States and is pursuing broader international growth.

Under legislation passed in April, most Australian crypto businesses will be required to hold an AFSL from April 9, 2027, and the Australian Securities and Investments Commission has extended the application grace period until Sept. 30 after receiving about 30 licence applications since October last year.

A recent Independent Reserve survey found that 33% of Australians now own cryptocurrency, up from 31% in 2025, with Bitcoin (CRYPTO:BTC) remaining the most widely held digital asset at 71% of respondents.

At the time of reporting, Bitcoin price was $62,530.65.