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08.12 - 12:29
Australia: Rest Super may become first pension fund to invest in crypto
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Australia is escalating its efforts to trigger institutional crypto investment in the country with Rest Super becoming the first superannuation fund to invest in cryptocurrencies.
It has $46.8 billion worth of assets under management and a client base of nearly 1.8 million members. Like 401k, Superannuation is a necessity and compulsory for all employees in Australia. The sector has a net worth of nearly $2.4 trillion and will be the first time delving into crypto market.
Last month, there were news of the state-owned crypto fund Queensland Investment Corporation [QIC] expanding exposure to crypto, however, the firm later stated that the reports were “incorrectly implied.”
As for Rest Super, its chief investment officer, Andrew Lill noted in
Read more on ambcrypto.comAbout this in other media
Australian government gives nod to 6 world leading crypto reforms cointelegraph.com /2 years ago
Aussie Crypto Exchange Sinks Amid Complaints, Missing Fund Allegations cryptonews.com /2 years ago
Massive jump in number of Australians who own crypto: Survey cointelegraph.com /2 years ago
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