Swyftx, which started in a Brisbane share house, is expanding into New Zealand after posting some significant growth. There is an expectation that the market in New Zealand could be as high as 800,000 customers.
Alex Harper and Angus Goldman, both in their 20s and mates from high school, have claimed they achieved revenue growth of more than 6000 per cent last financial year in what is becoming a very crowded market.
Swyftx was founded by Harper and Goldman in 2018 and now claime to be adding up to 8000 users a day to its platform in 2021. The company currently employs more than 120 staff, up from 11 team members at the start of the 2020-2021 financial year.
The Milton-based business has around 350,000 customers across Australia and becomes the largest digital assets provider by range of coins offered of any crypto exchange registered to operate in New Zealand.
Helping the business has been the volatility of crypto currencies, but Goldman said there was a lot of public interest in the asset.
He said the interest was broad and came from mum and dad investors to self-managed super funds.
“It’s still early days for crypto but we’re confident it will reshape how finance works in the ANZ region,” Harper said.
“The Australian market has developed extremely quickly this year and we see similar growth potential in New Zealand. Looking forward, the potential applications and use cases for blockchain technology and digital assets are almost limitless in both countries.”
“For a year and a half, Angus and I spent many long hours building the business from a small room in our Brisbane share-house. We’re now the second biggest, and most trusted digital asset exchange in Australia,” Harper said.
“Swyftx has been completely bootstrapped. We’ve focused on security, customer service, low fees, and diverse digital asset investment options. We’re confident the model will appeal to Kiwi crypto users.”
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