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Rest easy on crypto

  • Rest Super to become the first retirement fund in Australia to invest in crypto.
  • The country?s superannuation sector is currently worth about $3 trillion.
  • About A$66 billion worth of assets are under management by the fund.

Australian superannuation fund Rest Super is poised to become the first retirement fund in the country to invest in cryptocurrencies.

In a sign that even more businesses are jumping on the digital coin bandwagon the Rest retirement fund, which historically is from a sector known for being cautious, will soon have exposure to crypto.

Rest Super was established in 1988 and is one of the largest pension funds in Australia with some A$66 billion in assets under management and more than 1.81 million members, with more than half under 30 years old.

During the company?s recent annual general meeting Chief Investment Officer Andrew Lill reportedly told members that the fund sees digital assets as an ?important part? of its portfolio moving forward.

Australians have more than A$3 trillion in superannuation assets, making the country one of largest holders of pension fund assets in the world.