Legacy Trust have launched a crypto pension plan
|The Hong Kong based company Legacy Trust has opened a pension plan based on digital assets.
In what could be a world first the company have started a voluntary pension plan open to employers and the self-employed for which contributions and the underlying portfolio can include digital assets.
Vincent Chok, CEO of Legacy Trust said:
"Investors are moving beyond speculation — they want to use digital assets and bring them into a diversified portfolio," he then added "We see this retirement plan as an important step towards the mainstream adoption of digital assets and a compliant way for early adopters and recent investors alike to make a long-term play in the cryptocurrency space."
The stock markets have huge investment from longer-term passive funds through pensions so maybe this is a great idea. If it catches on it could ensure that there is a constant flow of investment in digital assets.
“The new product addresses various tax concerns for digital asset holders, and eliminates the temptation to sell during price dips thanks to limitations on accessing the capital assets,”
Each plan can be funded voluntarily or directly from month to month salaries and can also include fiat currencies alongside digital assets. The fund will invest in bitcoin, ether and other cryptocurrencies.
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