Price: $0.19590 1.3724%
Market Cap: 28.74B 1.1145%
Volume (24h): 3.69B 0.2%
Dominance: 1.1145%
Price: $0.19590 1.3724%
Market Cap: 28.74B 1.1145%
Volume (24h): 3.69B 0.2%
Dominance: 1.1145% 1.1145%
  • Price: $0.19590 1.3724%
  • Market Cap: 28.74B 1.1145%
  • Volume (24h): 3.69B 0.2%
  • Dominance: 1.1145% 1.1145%
  • Price: $0.19590 1.3724%
Home > Information news > Coinbase Has Unusually Big Plans For $600B Australian Pension Funds

Coinbase Has Unusually Big Plans For $600B Australian Pension Funds

Release: 2024/05/16 05:03 Reading: 550

Original author:Coingape News Media

Original source:https://coingape.com/?p=197145

Coinbase Has Unusually Big Plans For $600B Australian Pension Funds

American cryptocurrency exchange Coinbase Global Inc. plans on maximizing the potential demand for Australia's $600 billion and growing self-managed pension niche. In light of this, the United States Exchange is working on launching a service that caters to this growing demand.

Coinbase to Ride on Aussie Crypto Loophole

Asia Pacific Managing Director at Coinbase John O'Loghlen confirmed that the service is under development. According to a report from the Australian Taxation Office, this portfolio encompasses about a quarter of Australia's $2.5 trillion pension system with A$1 billion, equivalent to $664 million, allocated to digital assets.

A potential jump in the price of Bitcoin as well as the growing inflows could contribute to pushing the crypto assets held within these self-managed pension funds to hit a milestone. Meanwhile, Australian institutional money managers have exhibited their lack of interest in crypto assets over time. Their stance is largely influenced by the scandals and risk of volatility attached to the asset class.

During an interview, the Coinbase executive stated that "Self-managed super funds might just make a single allocation and set it and forget it." "We are working on an offering to service those clients really well on a one-off basis — to have them trade with us and stay with us," he added.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.