Aussie Crypto Exchange Swyftx Merges With Superhero, Creating a dollar1.5 Billion Financial Powerhouse
Categories: Crypto News US
Two of Australia’s most popular fintechs have announced an historic merger that will create the country’s first digital and traditional finance powerhouse. The partnership between digital asset broker Swyftx and share trading and superannuation platform Superhero will establish an A$1.5 billion financial services giant.The combined group will count to over 800,000 customers upon completion.The merged business will become the first in Australia to offer access to both decentralised and traditional finance, supporting trading and investing across cryptocurrencies, equities and superannuation. In July 2021, Superhero released its flagship superannuation offering, Superhero Super, allowing Australians the opportunity to invest their retirement savings in a range of portfolios, including direct ASX-listed shares and ETFs. The merged business will become the first in Australia to offer access to both decentralised and traditional finance, supporting trading and investing across cryptocurrencies, equities and superannuation. In July 2021, Superhero released its flagship superannuation offering, Superhero Super, allowing Australians the opportunity to invest their retirement savings in a range of portfolios, including direct ASX-listed shares and ETFs. A Closer Look at the Merger Swyftx grew its investor base by around 1,200 percent last year, and is Australia’s top-rated digital assets exchange – providing access to more than 320 digital currencies and crypto interest-earning features. Co-founded in 2018 by Alex Harper and Angus Goldman, the business currently has more than 600,000 retail and corporate investors on its platform. Superheroes is an Australian owned and operated platform that allows its clients to trade and participate in Super Funds. On its platform, clients can access more than 2,500 ASX-listed companies and ETFs with an A$5 brokerage fee and US$0 brokerage with access to over 4,500 US stocks and ETFs. The combined business will support 800,000 investors in New Zealand and Australia, with offices in Brisbane, Sydney, London and Vancouver.Swyftx expanded its base in New Zealand in August 2021. The merger is expected to be completed by early FY23, and upon completion, Swyftx says it will give its customers access to: