Leading American crypto exchange, Coinbase has partnered with Regal Assets, an alternative investment firm and Kingdom Trust, an asset custodian, to create and provide two fully secured cryptocurrency-based accounts in the United States.
The two cryptocurrency-based accounts include an Individual Retirement Account (IRA), which is an account that allows an individual to save for retirement in a tax-free growth, and a 401(K) account, which is a retirement plan sponsored by an employer which enables qualified employees to save money for their retirement on a tax-deferred basis.
According to a press release on Nov. 13, the accounts will grant investors access to a wide variety of cryptocurrencies directly via Coinbase.
The accounts will offer clients access to not only typical cryptocurrencies like Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) but also more exotic tokens like Tezos (XTZ), Basic Attention Token (BAT) and many others.
The accounts reportedly possess “$200 million in insurance protection, lifetime account management support, and the ability for clients to diversify their holdings into more than 30 different digital assets.”
According to the CEO of Regal Assets, Tyler Gallagher, it is ultimately up to the clients to decide what to invest in. He said in the release,
Clients make all the decisions themselves when it comes to digital asset selections and allocations but do have the option of guidance by connecting with their dedicated account manager.
The report further added that the security of clients’ funds is assured, even if the accounts are hacked since they are insured by a British insurance firm, Lloyd’s of London, which is one of the world’s largest insurance companies.
In a similar development last month, Coinfomania reported that Bitcoin IRA launched a product that allows crypto savers to receive interests on their retirement accounts.