OKX, a leading global crypto exchange, is expanding its reach into the Australian retirement sector with a new platform tailored for Self-Managed Superannuation Funds (SMSFs). This move aims to tap into the country’s massive $2.6 trillion pension system, even as cryptocurrency remains a small but growing part of retirement portfolios, a report by Decrypt said
The new platform, announced on Sunday, is designed to give SMSF trustees—both individuals and corporate entities—a simple way to add digital assets to their portfolios. OKX Australia CEO Kate Cooper noted that crypto adoption is higher than many realize, with SMSF crypto holdings growing sevenfold since 2021 to an estimated $1.1 billion to $1.2 billion.
“This isn’t about chasing a trend; it’s about providing serious infrastructure for SMSF trustees choosing to include digital assets in their portfolios,” Cooper told Decrypt.
The platform was developed in consultation with industry professionals and features robust tools like multi-signature security, proof-of-reserves reporting, and compliance with Australian financial regulations, including end-of-year reporting and AUSTRAC registration.
Despite the recent surge in crypto allocations within SMSFs, they still make up less than 0.3% of the sector’s total assets, according to a recent Australian Tax Office report. SMSFs remain heavily focused on traditional assets like shares, cash, and property. However, OKX is optimistic about its new offering, with Cooper projecting thousands of SMSFs will onboard to the platform in the next 1-2 years.
