Australia’s Rest Super retirement fund will invest in cryptocurrency for its 1.8 million members

© Reuters.

Australian pension fund Rest Super will become the country’s first retirement fund to invest in cryptocurrency.

The fund manages assets valued at more than 46.8 billion U.S. dollars and has approximately 1.8 million members. Pensions are equivalent to 401k or individual retirement accounts in the United States and are mandatory for all employees. So far, the $2.4 trillion industry has been very cautious about cryptocurrencies.