ForUsAll is a United States-based retirement plan provider. The firm is joining hands with Coinbase to allow clients to invest up to 5% of their portfolio assets in cryptocurrencies.
Small to Medium
This pension provider mainly serves small to medium-sized businesses. It is working to offer exposure to more than 50 cryptocurrencies in a product called Alt 401(k).
David Ramirez is the firm’s co-founder and chief investment officer. He addressed the concerns regarding offering crypto products in pension portfolios. He also said that cryptocurrencies might be volatile.
But US citizens will be at a disadvantage if they do not have the option of accessing crypto assets in their retirement plans. The firm handles $1.7 billion in retirement plan assets. However, this accounts for a small portion of the $22 trillion retirement account markets.
In the US, a 401 plan is an employer-sponsored defined contribution pension account. Subsection 401 of the internal revenue code describes the plan.
However, the largest institutional firms do not allow consumers to buy or sell cryptocurrency in individual retirement accounts. But they can purchase shares in trusts investing in crypto assets.
Tom Jessop says that crypto hit its tipping point. Bitcoin IRA allows the direct purchase of crypto assets and gold for retirement plans. They founded the firm in 2016.