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When Swyftx agreed to acquire Caleb and Brown in 2025, the transaction highlighted the development of a specialised Cryptocurrency brokerage Business in Australia. Rupert Hackett co-founded Caleb and Brown with Dr Prash Puspanathan, building a company focused on personalised cryptocurrency services rather than a traditional self-service exchange model.
The company’s journey reflects how businesses in emerging financial technology sectors can differentiate through customer service, specialised offerings and operational development.
Co-founding a personalised crypto brokerage
Caleb and Brown was founded in 2016 by Rupert Hackett and Dr Prash Puspanathan.
The company developed a brokerage model that provided clients with personalised support for cryptocurrency transactions.
Unlike automated cryptocurrency exchanges where users trade independently, Caleb and Brown focused on a relationship-based approach involving dedicated brokers.
The company expanded its operations from Australia and developed a presence among private investors, including customers in the United States.
Building a service-based business
The cryptocurrency industry has experienced significant changes, including periods of rapid growth, market declines and regulatory developments.
Caleb and Brown’s approach focused on providing additional support and guidance for clients seeking assistance with digital asset transactions.
This business model required developing client relationships, operational systems and processes to manage customer needs.
This article does not make claims about cryptocurrency as an investment, which involves risks. The focus is on the development of the brokerage business.
Expanding operations and client services
Caleb and Brown grew its customer base across Australia and international markets.
The company developed systems to support cryptocurrency transactions and client relationships.
Building a personalised financial service requires Investment in technology, compliance processes, staff and customer support.
In 2025, Australian Cryptocurrency exchange Swyftx agreed to acquire Caleb and Brown.
The Acquisition combined Swyftx’s exchange operations with Caleb and Brown’s brokerage services.
The transaction was reported as one of the largest cryptocurrency acquisitions in Australia and New Zealand.
The deal represented a significant stage in the development of the company founded in 2016.
Brokerage versus exchange models
A key difference between Caleb and Brown and many cryptocurrency exchanges is the level of customer interaction.
Traditional exchanges generally allow users to manage transactions independently through digital platforms.
A brokerage model provides additional support, with Brokers assisting clients through the process of buying, selling and managing digital assets.
This approach is closer to some traditional financial services models where customers receive personalised assistance.
The role of trust in financial services
Financial services businesses often depend on customer confidence and effective relationship management.
For cryptocurrency businesses, these factors can be particularly important due to market volatility, regulatory changes and the complexity of digital assets.
Caleb and Brown’s business model focused on providing clients with a more personalised experience compared with Automated Trading platforms.
Understanding private company Wealth estimates
As with private company interests, estimates of Rupert Hackett’s wealth are based on external assessments of ownership interests, company value and transaction details.
These estimates do not represent publicly disclosed cash holdings and may change depending on business performance and market conditions.
The Caleb and Brown business journey
Rupert Hackett’s role in Caleb and Brown demonstrates how companies in emerging industries can develop by focusing on specific customer needs.
The company built a cryptocurrency brokerage model based on personalised services and client relationships.
The broader lesson is that businesses operating in rapidly changing markets can differentiate through specialised offerings and operational execution.
Source: kalkine.com.au