Legacy Trust launches cryptocurrency-fuelled pension plan

Hong Kong-based firm Legacy Trust is now offering a pension plan where contributions can be made with both cryptocurrencies and fiat currencies, aimed at businesses in the crypto industry. Crucially, it enables the funds to be stored as cryptocurrencies—rather than converting them to fiat—providing a new way to HODL for the long term.

Legacy Trust was initially established as a traditional pension and family trustee before making the recent move into the emerging digital-assets pension arena.

This isn’t the company’s first foray into crypto. The firm recently collaborated with the French hardware wallet provider Ledger on its institutional-grade digital asset storage solutions called the “Ledger Vault.”

The custody provider said that the pension will be fully compliant with Hong Kong regulators and promises to assuage concerns over the tax implications of using cryptocurrencies.

The company also said its new product can even help handle any temptation to sell during price dips, thanks to “limitations on accessing the capital assets.” But considering how quickly the industry moves, planning 50 years ahead might not be such a safe bet.