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Closure of Earn Program

Published on 27 Dec 2022|Updated on 27 June 2026|3 min read


Due to the constantly changing regulatory landscape, we have made the decision to close the Earn program on 10 January 2023. We understand that this news may be disappointing, but we are committed to doing what is best for the program in the near term. While we believe in the value and potential of cryptocurrency, what we currently need is greater clarity on the regulation of crypto offerings such as Earn. 

To further clarify, this is not a financially driven decision for the business, and we are not removing the program due to any losses or issues with client assets. Under the Earn program, Swyftx generates yield by staking assets on-chain from Swyftx-held wallets. As such, no customer funds loaned to Swyftx are at risk to third parties. 

We are committed to working with regulators and the government to create a clear and stable regulatory environment for cryptocurrency in Australia, and we hope to be able to re-open the Earn program once these rules are established. 

What happens next?  

  • Earn program users will have their entire earn balances returned to their trade wallets on the day we close the program on the 10th of January, until then, the program will remain “At call” as it always has been. This means you can remove your assets from Earn at any time prior to 10 January 2023, if you wish.  

  • You will continue to Earn on your assets until the day the Earn Program is closed. 

Thank you for your understanding and continued support of Swyftx. If you have any questions or concerns, please don't hesitate to reach out to us via the live chat. 

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Swyftx

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‘Swyftx’ is a brand of Swyftx Pty Ltd (ABN 72 623 556 730, AFSL 568543). Swyftx’s spot cryptocurrency exchange services are not provided under Swyftx’s AFSL and are not issued, arranged, distributed or authorised by Eightcap Pty Ltd (ABN 73 139 495 944, AFSL 391441) (Eightcap), Web3 Loans Pty Ltd (ABN 48 668 516 952) or Web3 Ventures Pty Ltd trading as Block Earner (ABN 63 655 090 869, ACL 551024) (Block Earner). Derivative products are issued by Eightcap and distributed by Swyftx. Credit products are provided by Block Earner. Swyftx is an authorised credit representative of Block Earner (Credit Representative No 579667). 

The information on this website is general in nature and does not consider your objectives, financial situation or needs. You should consider whether this is suitable for you and your personal circumstances. Any statistics, price references, graphics or information on this page related to the performance of any asset, market or trading account are not indicative of current performance and should not be relied upon when making a decision to invest. This website is not targeted at the public, nor residents, of any specific country and is not intended for distribution to residents in any jurisdiction where that distribution would be unlawful. Digital assets are volatile and carry high levels of risk, you may lose some or all of your investment. Derivative products are highly speculative and carry significant risk. Credit products are subject to lending criteria. Before making any decision about whether to acquire a product, you should read the applicable Terms of Service and, where relevant, the PDS, FSG, Credit Guide and TMD available on Swyftx’s website, as well as the respective product issuer’s website (if applicable).