Cryptocurrency custody provider Legacy Trust is launching one of the first pension plans based on digital assets.
The Hong Kong licensed firm announced Wednesday that the plan will be offered to both employees of participating companies and self-employed, and will offer an underlying portfolio that includes crypto and fiat currencies. It is also expected to attract investors in cryptocurrencies.
Legacy Trust CEO Vincent Chok said:
“We envisage that this will appeal to businesses who are active in the digital assets space, and who want to offer additional benefits to their employees to retain talent and recognise achievement. What better way to drive employee loyalty while allowing valuable staff to participate in the growth of the company and the digital asset space?”
The plan will be funded by voluntary contributions or deducted directly from an employee’s salary. The pension will be paid after the retirement of the plan member or the beneficiaries in case of death.
Legacy Trust said the plan “addresses several tax concerns for digital asset holders,” although it did not offer any details.
In March, the firm partnered with the hardware wallet maker Ledger to offer custody of “institutional grade” cryptocurrencies.
Using the Ledger Ledger Vault multi-signature cryptocurrency wallet management product, Legacy Trust said at the time that it would be able to “securely and efficiently” safeguard customers’ digital assets, such as ERC-20 based tokens In bitcoin and ethereum.
Pensioners image via Steve Buissinne from Pixabay
This article is republished from dailycoin.info.