In a move that will strengthen Brisbane’s position as a leading financial technology hub, Brisbane-based cryptocurrency company Swyftx has announced a merger with Superhero.
In recent years, Brisbane has well and truly established itself as the birthplace of some of Australia, if not the world’s, most innovative companies.
The partnership between the two companies will establish a $1.5 billion financial services giant, making it the first in Australia to offer access to both decentralised and traditional finance. This exciting development means that businesses and investors in Brisbane will now have access to a comprehensive range of finance options, including cryptocurrencies, equities and superannuation.
Brisbane based and founded, Swyftx now has over 600,000 retail and corporate investors across its platform. Keeping in mind Swyftx is barely four years old, this equates to some truly impressive growth and decidedly marks them as one to watch for financial investors across Australia.
Just last year Brisbane Lord Mayor, Adrian Schrimmer, presented Swyftx co-founder Alex Harper with the award for Young Business Person of the Year. Swyftx itself was given the Award for High-Growth Business.
Superhero was founded in 2018 by Wayne Baskin and John Winters, and it debuted in late 2020 as Australia’s most inexpensive online broker. With investors able to trade across Australian and US shares, the business has expanded its investor base by more than 600 percent in the past year.
In July 2021, Superhero launched its flagship superannuation product, Superhero Super, which allows Australian savers to put their retirement funds into a variety of portfolios including direct listed shares and ETFs.
The merger between Swyftx and Superhero is set to create one of the largest financial services provider in Australia, with a combined customer base of over 800,000 customers upon completion. The two companies have complementary strengths that will make for a powerful combination. Swyftx is Australia’s top-rated digital assets exchange, providing access to more than 200 cryptocurrencies and Superhero is one of the country’s leading online brokers.
The two companies are set to complete the merger in early 2023. Until then, both businesses will continue to operate as usual.
We’re excited to see what this move will mean for Brisbane’s position as a leading financial technology hub and we’ll be keeping a close eye on the progress of the merger. Stay tuned for more updates!
Please note that this blog post is for informational purposes only and does not constitute financial advice. We recommend that you seek professional financial advice before making any investment decisions.
