Australian cryptocurrency exchange Cointree enters the SMSF space with new partnership
Cointree, one of Australia’s leading cryptocurrency exchanges, has identified a growing interest from customers wanting the ability to purchase cryptocurrency with their superannuation. Due to this increased demand, Cointree is partnering up with New Brighton Capital, who offer accredited SMSF accounting services and focus on helping Australians own crypto in their super.
“I am very excited about this partnership, this is the first step of the education process for our members, shedding some light around the opportunities of having an SMSF and investing into cryptocurrency,” says Shane Stevenson, CEO of Cointree.
“We want to provide platform and channel where partners like NBC can educate our members on the different cryptocurrency investment opportunities available,” added Shane Stevenson. “More importantly partnering up with the right companies that can also provide a good complimentary service for our members”.
New Brighton Capital offers an end to end service from setting up a regulated SMSF all the way to opening your dedicated SMSF account at their preferred cryptocurrency exchange. NBC can have an SMSF up and running within 24 hours and after ATO approval and after your existing fund sends money to your new SMSF, you can start buying crypto with your superannuation.
“Not many people are aware that you can invest into cryptocurrency using your super, because to do so you will need to set up a self-managed super fund,” says Michael White, CEO of New Brighton Capital. “This is where a lot of people give up because there is a lack of knowledge, and it is seen as too complicated. The reality is, that after an SMSF is set up, our clients generally invest around 15 minutes a year on the tax and accounting side. We do the rest.”
“Our vision at NBC is to educate the community on the obvious benefits of having a self-managed super fund and to increase awareness that every day Australians can hold crypto in their super,” added Michael White. “We handle the SMSF compliance, tax returns, and annual audits so our clients can concentrate on building their investment portfolio”.
To further assist members with their compliance obligations, Cointree is planning to implement some tax and SMSF features into its trading platform. These features will allow members to supply their accountants and auditors with the information they need to easily complete their tax returns and audits.
