Coinbase APAC Exec Eyes Super Funds, Crypto Services In the Works

IconCNT15 May, 2024

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Coinbase APAC Exec Eyes Super Funds, Crypto Services In the Works

Coinbase APAC Managing Director John O’Loghlen has his eyes set on Australia’s superannuation sector, with the crypto exchange developing services specifically for it, according to Bloomberg. Data from the Australian Taxation Office reveals that these investment portfolios make up about 25% of Australia’s retirement savings system, with A$1 billion ($664 million) already invested in cryptocurrencies. “We’re increasingly seeing younger Australians who want to allocate some of their super to crypto,” O’Loghlen previously said. “And then you’ve got some of the high net worth individuals who are interested in crypto as well, but that’s a smaller pool of assets at the moment.” Previously on May 15, 2024, Coinbase APAC Managing Director John O’Loghlen expressed interest in the potential demand from Australia’s superannuation sector, stating that the crypto exchange is actively developing services to cater to this market.

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