Hong Kong Launches First Cryptocurrency Pension Plan

Hong Kong Launches First Cryptocurrency Pension Plan

The Hong Kong custodian service Legacy Trust has launched one of the first of its kind retirement plans, under which citizens’ pension savings will be stored in digital assets.

The new program will be available to working citizens, individual entrepreneurs and self-employed people. The company expects the retirement plan will also attract cryptocurrency investors. Legacy Trust CEO Vincent Chok said:

“We think that this will appeal to a business that is actively working in the field of digital assets and wants to offer its employees additional benefits, retain valuable employees and recognize their achievements. Is there a better way to increase employee loyalty than to allow valuable staff to participate in the development of the company and the digital asset industry? ”

It is reported that the pension plan will be financed either through voluntary contributions, or the money will be deducted directly from the salary of employees. Funds will be paid after retirement of the scheme participant or to heirs in case of his death.

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Recall that in February Legacy Trust announced the integration of Blockpass blockchain solution for verification of registered users. In addition, at the end of last year, the founder of Morgan Creek Digital Assests, Anthony Pompliano, said that every pension fund that cares about the future of its customers should invest in bitcoin.


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