Digital asset custodian Kingdom Trust is offering investors a single retirement account for traditional and digital assets.
Called Choice, the South Dakota-based custodian is offering a self-service retirement platform where investors can buy, sell or hold stocks, exchange-traded funds and digital assets in one tax-advantaged account, said Kingdom Trust CEO Ryan Radloff.
Currently, fewer than 1% of the 100,000 retirement accounts for which Kingdom Trust provides custody have any digital assets as part of their portfolios.
"Basically it's a self-directed IRA with a web interface and mobile app to go back and forth between legacy and digital assets," Radloff said.
Kingdom Trust built connections to crypto exchange Kraken to access digital assets and legacy brokers for traditional assets.
As someone calling out my fellow bitcoiners, we need to be focused on the U.S. retirement market.
The launch comes after Kingdom Trust acquired Choice Holdings, a digital asset retirement company built by Radloff in the first quarter of 2020.
"Most people have more investable discretionary dollars in retirement accounts than they do in brokerage accounts," Radloff said.
As a promotion, the company is offering the first 1,000 Choice members $62.50 of bitcoin upon opening an account.
"As someone calling out my fellow bitcoiners, we need to be focused on the U.S. retirement market," Radloff said.
'Focus on Retirement': Crypto Custodian Rolls Out Hybrid IRA Offering
gepubliceerd op May 27, 2020
by Coindesk | gepubliceerd op Coinage
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