Odaily Planet Daily reported that Australia's A$4.3 trillion (approximately US$2.8 trillion) superannuation system (long regarded as one of the most well-regulated savings pools in the world) is becoming a new frontier for cryptocurrency.
Coinbase and OKX have launched products targeting pension funds investing in cryptocurrencies, signaling the further penetration of digital assets into the mainstream financial system. Their initial focus is on self-managed superannuation funds (SMSFs), investor-managed funds that already account for a quarter of the Australian pension market. Unlike mainstream superannuation funds, which generally shy away from cryptocurrency assets, SMSFs empower individuals with full investment autonomy.
A spokesperson for the Australian Securities and Investments Commission (ASIC) stated, "These products are extremely volatile, and excessive exposure can result in significant losses." The agency also recommends that consumers seek professional advice from an accountant or financial advisor before setting up an SMSF. It emphasized, "We remind those considering setting up an SMSF that the core objective of the superannuation system is to preserve and increase the value of their assets, ultimately providing individuals with the income they need for a decent retirement." (Zhitong Finance)
