Coinbase Targets Crypto Demand in $600 Billion Australian Pension Sector
- Australia’s self-run pensions reported A$1 billion in crypto
- Bitcoin has surged around 55% this year after ETF launches
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Coinbase Global Inc., the largest US crypto exchange, is zeroing in on potential demand in Australia’s growing self-managed pensions sector.
The exchange is developing a service that targets the segment, Asia-Pacific Managing Director John O’Loghlen said. Such portfolios make up about a quarter of Australia’s $2.5 trillion pension system and have A$1 billion ($664 million) allocated to crypto, the latest Australian Taxation Office data show.