Two popular fintech companies, Swyftx and Superhero, in Australia raised eyebrows with a historic merger. Swyftx is a digital asset broker, while Superhero is a share trading and superannuation platform. The mergership will bring about the country’s first digital and traditional finance powerhouse worth $1.5 billion with over 800,000 customers.
In a first for Australia, the mergership will provide access to both decentralized and traditional finance. It will support trading and investing across cryptocurrencies, equities and superannuation.
Alex Harper, the co-founder of Swyftx, said the merger is a significant step for both businesses in terms of their evolution from disruptive tech players into a single, major financial institution that can expand across domestic and international markets.
John Winters, the co-founder of Superhero, expressed thrill about the merger. He said they offer their customers the opportunity to invest in traditional and digital assets across a single platform. Since launching in 2018, the Swyftx team has achieved amazing things. Through the mergership, the company is set to offer an even better investing experience. Superhero had released its flagship superannuation offering – Superhero Super – in July 2021 for its customers to invest their retirement savings in a wide range of portfolios, including direct ASX-listed shares and ETFs.
Through the mergership, which will be completed in 2023, Swyftx and Superhero will support 800,000 investors across Australia and New Zealand.