Superhero and Swyftx unveil ‘$1.5b’ merger

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Gyrations in share and crypto markets have not deterred the two businesses from joining forces in their bid to create a “super app” with 800,000 customers.

. It also plans to offer crypto and share trading capabilities within the app.

The merged entity will allow customers on both platforms to log in using a single account. It will allow access to cryptocurrency and equities trading along with superannuation holdings in one interface. “There is a complex set of rules and to navigate them has its challenges that we’ve worked through. For someone else coming else into this space – it’s hard,” Mr Winters said.Mr Harper said there was a “misconception that crypto is a completely regulated space”.

The transaction comes amid turbulence in both equity and crypto markets as the stimulus-fuelled meme stock and coin “melt-ups” were replaced by violent corrections as interest rates edge higher.an algorithmic stablecoin that was tied to the US dollar but became worthless in a matter of days.“It’s still rapidly evolving. Our investors understand it’s a volatile space and to invest responsibly,” Mr Harper said.

 

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Superhero and Swyftx unveil ‘$1.5b’ mergerGyrations in share and crypto markets have not deterred the two businesses from joining forces in their bid to create a “super app” with 800,000 customers.
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