Coinbase Global Inc., the leading US cryptocurrency exchange, is making a strategic move to tap into Australia’s self-managed pension fund market. With an estimated $1 billion allocated to crypto equivalent to $664 million in these portfolios, representing a sizable portion of Australia’s $2.5 trillion pension system.
John O’Loghlen, Coinbase’s Asia-Pacific Managing Director, revealed plans to develop a service specifically designed for self-managed pension funds. Michael Houlihan, a private wealth management expert, cautioned against overexposure to high-risk assets.
Furthermore, global competitors like Kraken and local players such as BTC Markets Pty and Independent Reserve Pty are also vying for a share of this burgeoning market.
However, In a bid to cater to the growing demand, Coinbase has announced the addition of three new altcoin perpetual futures contracts: Jupiter (JUP), Token (TNSR), and Jito (JTO). These contracts will be tradable on the Coinbase Exchange and Coinbase Advanced platforms, starting May 16, 2024, at 9:30 UTC.
