Coinbase now accepts Australian self-managed pension funds! 🚀👛

Coinbase Introduces Service for Self-Managed Pension Sector in Australia 🔥

Coinbase plans to introduce a service dedicated to targeting the self-managed pension sector in Australia.

Australia: Innovative Strategy by Coinbase to Attract Pension Funds 🔥

– Coinbase is developing a targeted service for the self-managed pension sector in Australia
– CEO John O’Loghlen confirmed this initiative in an interview with Bloomberg
– Investments in cryptocurrencies by self-managed funds in Australia have significantly increased since March 2019
– Recent data from the Australian Taxation Office shows nearly 1 billion Australian dollars invested in cryptocurrencies
– Despite the growth, many Australians have incurred substantial losses by using self-managed pension funds for crypto investments
– Some individuals have lost millions, as reported by Reuters in March 2023
– O’Loghlen highlights the convenience of setting allocations and forgetting about them with self-managed super funds
– Coinbase aims to cater to specific customer needs with a targeted offer to attract and retain users within the platform

Crypto Interest in Pension Sector Spurs by recent ETF Approvals 🔥

– Growing interest in cryptocurrencies within the self-managed pension sector may be influenced by recent spot ETF approvals in the US
– Expectations are high that Australia could follow suit later this year
– Coinbase’s new service is not viewed as a threat to ETF operators but as a means to provide direct access for potential investors through self-management portals

Resumption of Coinbase Operations Post System Interruption 🔥

– Coinbase experienced a system-wide disruption that left users locked out for hours
– Users couldn’t access accounts on desktop or mobile platforms
– The interruption began around 4:15 UTC and lasted several hours before services were fully restored
– Despite assurances that user funds were secure, the company has not provided a definitive explanation for the disruption
– Speculation suggests system overload or maintenance issues as possible causes

Hot Take: Exciting Developments in the Crypto Space 🔥

Coinbase’s innovative approach to target the self-managed pension sector in Australia highlights the increasing adoption of cryptocurrencies in traditional financial sectors.