Crypto’s Coinbase Targets $600 Billion Aussie Pension Sector (1)

Coinbase Global Inc., the largest US crypto exchange, is zeroing in on potential demand in Australia’s growing self-managed pensions sector.

The exchange is developing a service that targets the segment, Asia-Pacific Managing Director John O’Loghlen said. Such portfolios make up about a quarter of Australia’s $2.5 trillion pension systemand have A$1 billion ($664 million) allocated to crypto, the latest Australian Taxation Office data show.

Cryptoassets held within these self-managed retirement funds may be on track to hit a record after inflows and Bitcoin’s 55% price jump this year. But Australia’s institutional money managers largely shy away from the ...