Coinbase targets Australia's $600 billion pension fund market

Coinbase, the largest US crypto exchange, is developing services to tap into Australia’s $600 billion self-managed pension sector.

John O’Loghlen, Coinbase's Asia-Pacific Managing Director, confirmed that the tailored service aims to meet the demand for crypto products among self-managed super funds, which prefer a "set it and forget it" approach.

These funds constitute a significant portion of Australia's $2.5 trillion pension system, with AU$1 billion ($664 million) currently allocated to crypto assets.

Despite a decrease from a 2021 peak, recent developments such as potential crypto ETFs and rising Bitcoin (CRYPTO:BTC) prices have revived interest in cryptocurrencies.

However, experts warn of the high risks, highlighting past significant losses faced by Australian DIY pension fund investors.