Coinbase, Regal, and Kingdom Trust Partner To Offer Bitcoin IRA & 401k’s Backed by $200M Insurance
Coinbase, known as the most prominent U.S. based crypto exchange, has recently started a partnership with the investment firm Regal Assets and the custodian Kingdom Trust. With the new partnership, the three companies will offer individual retirement accounts (IRA) and 401(k) accounts for clients based in the United States.
In case you are not familiar with the terms, a 401(k) account is a qualified retirement savings plan that is often paid by an employer while an IRA is paid by the individual.
According to a recent press release, the companies will offer the investors access to over 30 different cryptos via Coinbase. The investments will be insured by Lloyd’s of London.
Tyler Gallagher, the CEO of Regal Assets, said that the clients will have the power to make their own decisions about how to invest, but they can also receive guidance from account managers that will aid them to do the best possible choices. At the moment, popular assets such as Bitcoin (BTC), XRP, EOS, Ethereum (ETH), Tezos (XTZ) and Litecoin (LTC) are among the offerings.
The decision of entering this industry came at a time in which crypto companies are starting to focus on the area. Recently, Genesis Capital also decided to offer IRA investments, for instance. Other companies, such as Bitcoin IRA, do it for longer, with its services dating back to 2016 and having over 4,000 clients so far.