Australian pension fund Rest Super plans to invest in cryptocurrency.

“This is still an irreversible investment, so all of our crypto investments will be our unique case,” said Andrew Lill, super general manager of Lest. Information was presented on Tuesday.

Australian pension fund Super So will become the first Australian pension fund to invest in cryptocurrencies.

The managed capital exceeds $ 46.8 billion in assets and has approximately 1.8 million members. Super vacations are equivalent to 401k or a personal vacation in the United States and are a must have for every employee. So far, the $ 2.4 trillion market has been very cautious of cryptocurrencies.

At the company's annual business meeting on Tuesday, Andrew Lill, the company's chief commercial officer, said the company believes digital assets are "a significant part" of its capital, but that it will invest "with caution. ".

“It's still a very difficult investment, so our cryptocurrency distribution is only part of the different data. At first, the percentage will be very low and may increase over time.

Lill believes that influencing members into cryptocurrencies and blockchain technology can provide "a stable place in value" as investors flock to use cryptocurrencies as a tool to prevent inflation.

“I think this could be a good investment option in the age of inflation,” he said.

An expert from So Super said in a statement, “We are looking at cryptocurrency as a way to showcase our members' pensions, but we will not be investing in the future.

"We are currently making decisions on the basis of extensive heritage research," said the spokesperson. "We also take security and management issues into account when investing in this tool."

“I don't think cryptocurrencies can be invested in membership,” Paul Schroder, CEO of $ 167 billion said Monday.

Last month, it was reported that Australian public investment firm Queensland Investment Corporation (QIC) had decided to trade cryptocurrencies. However, the company told Industry Insider this week that the warnings were "in error" and did not endorse any digital exchange adopted.

QIC CFO Stuart Simmons also called for the adoption of pensions in the future, but said: "The adoption will be safer than burdensome."

The talks come at a time when the Australian cryptocurrency market could turn bullish. Earlier this month, the Senate Board of Directors announced general regulatory advice on supporting the development of Australia's newest cryptocurrency hub, and earlier this month, the Australian Treasury Department (CBA ) provided cryptocurrency exchanges through its banking app.

As the country anxiously awaits which major financial institution will be next to adopt crypto, CBA CEO Matt Comyn said earlier this week that banks have seen a big revival for FOMOs.

"I know the dangers of joining, but I think the risk of not joining is greater," he said.