Aussie Fintech company Finder is partnering with SWYFTX to facilitate users’ migration to the Crypto Exchange platform.
Users must agree to the wallet balance transition
Australian Fintech Company Finder announced a partnership with SWYFTX to facilitate users’ migration to the latter Crypto Exchange platform. Following the arrangement, Finder wallet users have the option to migrate their cryptocurrency balances to an existing or newly created SWYFTX account.
According to the statement, users must agree to forward the balance. This is a process that is handled by the Finder team. During the migration process, the user sends two links. One is for existing SWYFTX users, and the other is for new users.
To complete the process, an existing SWYFTX user must log in via the specified link. However, for newer SWYFTX users, this process is slightly different.
“New SWYFTX customers will be asked to sign up through the link. Once users sign up and verify their account via this link, they will receive an email to the address they used to sign up from their Finder Wallet to confirm the transfer of funds to their SWYFTX account,” the Finder team explained.
Meanwhile, the statement revealed that Finder wallet users holding Matic or FTMs will each convert these to Pol and Sonic during migration, reflecting the potential changes in the underlying assets the platform supports.
Finder’s decision to effectively exit Crypto Business arrives as Australia’s cryptocurrency market navigates a dynamic regulatory environment. In recent years, the Australian Securities and Investment Commission (ASIC) has played a more active role in overseeing crypto-related products and services, leading to the increased scrutiny and legal challenges of some operators.
For example, the Finder itself was involved in a legal dispute with ASIC over its “acquired” crypto products. Finder ultimately won the case in 2023, but reportedly reportedly reduced the past two years.
Meanwhile, Swyftx appears to have had no issues with regulators, allowing it to grow and become a key player in the Australian cryptocurrency exchange market. The exchange is registered with Australian financial intelligence agency Austrak and demonstrates its commitment to regulatory compliance.
Meanwhile, the Finder team said one lucky user who has completed the migration process that takes up to seven days will win $1,600 (AUD $2,500) on Crypto.