Hong Kong-licensed Legacy Trust Company Limited, announced today it is launching a digital asset pension plan service; a voluntary pension plan available to employers and the self-employed, where the contributions and underlying asset portfolio can include digital assets alongside fiat currencies.
The digital asset pension is structured as a non-vested trust, it’s fully compliant with Hong Kong regulations and it’s available to members residing anywhere in the world, provided that they are gainfully employed.
The pension is funded by voluntary contributions made by an employee, employer or deducted directly from a salary, on a frequency of their choice. It is then paid out when the member retires, or to their beneficiaries should they pass.
“We envisage that this will appeal to businesses who are active in the digital assets space, and who want to offer additional benefits to their employees to retain talent and recognize achievement,” said Vincent Chok, CEO of Legacy Trust. “What better way to drive employee loyalty while allowing valuable staff to participate in the growth of the company and the digital asset space?”
The new product addresses various tax concerns for digital assets holders, and eliminates the temptation to sell during price dips thanks to limitations on accessing the capital assets. Legacy Trust, founded in 1992, was initially established as a traditional pension and family trustee, bringing experience in providing institutional-grade service and security to the emerging space of digital assets.
Legacy recently collaborated with Ledger on an institutional-grade digital asset solution– Ledger Vault and offers custody to TrustToken’s TrueHKD stablecoin reserves.