Swyftx | Crypto

The AI-native cohort of the expanding gig economy could increasingly use stablecoins to avoid slow and expensive traditional payment rails, Australian crypto exchange Swyftx said. AI-enabled microbusinesses could provide a major boost for stablecoin transaction volumes as the global gig and freelance payment market grows, according to Australian crypto exchange Swyftx.  In a second-quarter industry report, Swyftx estimated the global gig and freelance payments market could reach $2.1 trillion by 2033, with AI-native workers accounting for $775 billion. Swyftx’s base-case model projected that $262 billion of the AI-native cohort’s payment volume could be settled in stablecoins, based on an assumed adoption rate of roughly 33%.  “We see the vibe-coding and AI economy as a significant potential tailwind for stablecoin use,” Pav Hundal, lead market analyst at Swyftx, told Cointelegraph. Read more

Swyftx interim co-CEO Andrea Yuen says the company "won’t be a pure crypto spot exchange in future,” after it secured a license allowing it to offer payment services. Australian crypto exchange Swyftx says it will be seeking opportunities in the crypto payments space after securing a license from Australia’s market regulator.  Swyftx said on Wednesday that it received its Australian Financial Services License (AFSL), joining the likes of Coinbase, BTC Markets and Crypto.com. The license allows it to offer derivative products, such as crypto options or futures, to retail customers, as well as non-cash payment facility authorization, setting up the fintech to offer payment services to business and retail clients. It does not hold an AFSL to offer spot crypto.  “Swyftx won’t be a pure crypto spot exchange in future,” Swyftx interim co-CEO Andrea Yuen told Cointelegraph. “In particular, we see a lot of opportunity in the payments space following local changes to credit card surcharging.” Read more

Swyftx is acquiring Caleb & Brown in the largest crypto M&A deal in ANZ as it seeks a foothold in the U.S. to target high-net-worth clients.