Swyftx and Superhero Team Up to Offer Both Stock and Crypto Trading
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Swyftx and Superhero Unveils $1.5B Deal
Superhero and Swyftx have joined forces for a $1.5 billion merger deal to build a platform that will allow cryptocurrencies, shares, and superannuation all in one place. The two businesses intend to combine traditional and DeFi with the trading of cryptocurrencies, equities, and superannuation.
Both based in Australia, the two companies will join forces with an estimated 800,000 customers once the merger goes through. The merger is expected to be completed in early 2023, with both the firms continuing to operate separately for the time being.
Swyftx co-founder Alex Harper and Swyftx CEO Ryan Parsons will become co-CEOs of the combined business. Commenting on the historic merger, Swyftx Co-Founder Alex Harper said:
“The proposed merger represents a significant step for both businesses in terms of their evolution from disruptive tech players into a single, major financial institution that can grow across domestic and international markets.”
Swyftx’s cryptocurrency exchange provides access to over 320 cryptocurrencies including other crypto features, while Superhero says it has grown its ASX trading platform to 200,000 investors since it went live in September 2020.