Sydney cryptocurrency pioneer Independent Reserve has acquired Sydney Swans sponsor Bitcoin.com.au in a $3 million deal.

The M&A deal comes as crypto sees rising prices and renewed interest amid US bank collapses and Credit Suisse’s USB takeover.

Since the collapse of Silicon Valley Bank amid lingering concerns about the stability of the US financial system, Bitcoin is up more than 40% to climb above $28K (A$41.7k) for the first time since June 2022 . up 4.3% and Solana up 10%, with Ripple flat, Cardano down 3.5%, Polygon (-6.3%) and Dogecoin (-1.9%).

Announced the acquisition today, Adrian Przelozny, CEO of Independent Reserve, praised Bitcoin.com.au as the newest and easiest way for Australians to buy crypto.

“The cryptocurrency and blockchain space has become increasingly complex. Meanwhile, there is a very high proportion of Australian investors who want to get into crypto but find it too difficult,” he said.

“In our last IRCI report, 22% of Australians have not invested in crypto because they found it too difficult or confusing. Bitcoin.com.au is the solution for those Aussies.”

Founded in 2013, Independent Reserve was previously a sponsor of the Swans AFL team and is now back through bitcoin.com.au. The brand will engage fans at home games, with the first game this weekend at the SCG against Hawthorn.

Prezelozny said the launch of the country’s newest crypto exchange, which has about 100,000 people in its database, is an extension of Independent Reserve’s offerings.

“The team at bitcoin.com.au gives people what they want; an easy way to buy and sell the world’s most popular cryptocurrencies. Security is still at the forefront of what we do. While making things easier, Independent Reserve has built its reputation on ensuring our clients’ assets are safe. That will not change with bitcoin.com.au,” he said.

“At a time when many in the market are bunkering down, we are expanding our offerings and realizing our growth strategy with the launch of bitcoin.com.au.”

Independent reservation has approximately 250,000 clients from Australia, New Zealand and Singapore who invest in Bitcoin, Ethereum, XRP and other major cryptocurrencies.