Cryptocurrency exchanges Coinbase and OKX are initiating the development of products aimed at tapping Australia’s pension system valued at $2.8 trillion.
Access to Pension Funds
Coinbase and OKX are targeting Australian pension funds, specifically self-managed superannuation funds (SMSFs), which make up about 25% of the market. These funds allow individuals to select their own investment options for retirement.
Crypto Investments and Pension Funds
Despite low volumes of crypto investments in SMSFs, the total value is only $1.1 billion. Nevertheless, interest in cryptocurrencies among Australian investors is increasing, especially among younger clients.
Expectations from Coinbase and OKX
Coinbase is planning to launch SMSF services in the coming months, expecting investments of up to $65,000. Newer generations of investors, who are more familiar with cryptocurrencies, are anticipated to actively participate in this initiative.
The development of new products by Coinbase and OKX may change the approach to cryptocurrency investments within the Australian pension system, based on the growing interest in digital assets.
