Gemini cryptocurrency exchange in cooperation with the Bitwage payroll service announced the opening of the possibility of generating pension savings under the 401 (k) model with a certain percentage in bitcoin (EXANTE: Bitcoin).
Thus, according to an official announcement, Bitwage has become a pioneer in providing retirement savings in the United States with the possibility of investing in cryptocurrency.
Initially Bitwage will reportedly limit the number of clients that can sign up. The company will focus on helping to create a 401(k) Plan with Leading Retirement Solutions and employee custody accounts with Kingdom Trust.
All funds will be converted on Gemini automatically for each pay period, the announcement says. Employees will be able to choose to buy and sell between USD and BTC as they want.
"Our vision includes integrating a trading engine directly inside of the 401(k) Plan so institutional as well as retail investors have access to the same exchange-grade trading tools inside of tax-incentivized retirement accounts," the announcement states.
iHodl earlier reported that the US-based regulated cryptocurrency exchange completed another security audit, which covers the financial operations and customer reporting controls of the exchange and Gemini Custody.
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