Superhero and crypto platform Swyftx plan a $1.5 billion merger, but some of Superhero’s retail punters may still be nursing losses on Zip Co.
its combined value will be $1.5 billion on the back of 800,000 customers punting across stock and crypto markets.to trade cryptocurrency, equities and superannuation holdings in one interface, they told the media this week.For what it’s worth, we’re told one of Swyftx’s partners is global crypto exchange Binance, which the Brisbane-based crypto apostles use to facilitate trades including via Binance’s global liquidity facility.
Binance has a dubious reputation, even in crypto, after being banned and booted out of the United Kingdom, failing to get a licence in Singapore and facing investigations in the US by the Justice Department, Internal Revenue Service and US Commodity Futures Trading Commission, according to Bloomberg.
But we’re not going to judge Binance and the curious world of crypto just yet, as the Swyftx, Superhero tie-up should provide plenty of entertainment ahead. Tom writes and comments on markets including tech, crypto, software, small caps, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as an IMC graduate.
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