Retirement investment platform ForUsAll has announced that it is partnering with cryptocurrency exchange Coinbase to expand access to cryptocurrencies through the U.S. 401(k) pension scheme.
Fast Facts:
- ForUsAll’s Alt 401(k) investment platform allows employers to provide alternative investment options within 401(k) plans, according to a statement. Employees can transfer up to 5% of their portfolio into cryptocurrencies. They can also bid, hold and sell more than 50 cryptocurrencies.
- “The reality is that alternative asset classes which increasingly include small allocations to cryptocurrency have become an important part of many institutional portfolios,” said David Ramirez, ForUsAll’s co-founder and chief investment officer, in a statement. “Without access to these portfolio building blocks and expert help to prudently use these asset classes, the average American may be at a structural disadvantage.
- “Alternative investments, including small allocations to cryptocurrency can help improve portfolio diversification and expected returns. However, the volatility and the complexity of these asset classes make prudent education and advice for employees essential, Ramirez added.