Bitcoin and crypto go mainstream with new 401(k) retirement offering

SourceYahoo News
SectorFinancial Markets
CountryMiddle east

Yahoo MoneyBitcoin and crypto go mainstream with new 401(k) retirement offeringStephanie Asymkos·ReporterJune 10, 2021, 2:44 PM·4 min read

Some 401(k) savers soon can plunk a portion of their nest eggs into cryptocurrency.

Starting in July, ForUsAll Inc., a 401(k) provider, will let workers in retirement plans it administers to invest up to 5% of their contributions in the leading cryptocurrencies through Coinbase. The news was first reported by the Wall Street Journal.

Read more: Bitcoin and crypto: 14 terms you should know

“When we created our institutional platform, our initial focus was making cryptocurrency accessible to institutional investors and high net worth individuals,” Brett Tejpaul, head of institutional sales, trading, and prime at Coinbase, said in a statement to Yahoo Money. “The next evolution is to broaden our reach and we are thrilled to be working with ForUsAll to expand access to cryptocurrency through 401(k)s.”

Representations of the Bitcoin and Dogecoin cryptocurrencies are seen in this picture illustration taken June 7, 2021.

REUTERS/Edgar Su/Illustration

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