Coin

<ul class="news-points">
 <li>Coinbase plans to launch a service for Australia’s self-managed pension sector.</li>
 <li>Digital asset investments in SMSFs have surged over 500% since 2019, reaching approximately A$1 billion ($664 million) in 2024.</li>
 <li>Coinbase’s new service aims to provide easy, one-off trades for SMSF clients.</li>
</ul>
Coinbase, the leading U.S. cryptocurrency exchange, plans to launch a new service aimed at Australia’s growing Self-Managed Superannuation Funds (SMSFs), according to a <a href="https://www.bloomberg.com/news/articles/2024-05-15/coinbase-targets-crypto-demand-in-600-billion-aussie-pension-sector" target="_blank" rel="noopener noreferrer nofollow">recent interview</a> with Asia-Pacific Managing Director John O’Loghlen.
Data from the <a href="https://data.gov.au/data/dataset/self-managed-superannuation-funds" target="_blank" rel="noopener noreferrer nofollow">Australian Taxation Office</a> (ATO) indicates that SMSFs, which represent approximately a quarter of Australia’s $2.5 trillion pension market, have allocated roughly A$1 billion (US$664 million) to digital assets
This figure represents a significant increase of over 500% from the A$131.5 million (US$197 million) recorded in December 2019, highlighting the growing presence of cryptocurrencies within Australia’s pension sector.
Driven by recent capital inflows and Bitcoin’s price surge in 2024, cryptocurrency investments in SMSFs are expected to climb further. Howe…
The post <a href="https://coinedition.com/coinbase-targets-crypto-demand-in-australias-600b-pension-market/" rel="noopener noreferrer nofollow">Coinbase Targets Crypto Demand in Australia’s $600B Pension Market</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Coinbase Targets Crypto Demand in Australia’s $600B Pension Market

Coin Edition

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