South Korea’s National Pension Service (NPS), one of the world’s largest pension funds, has made a significant investment in Coinbase, the popular cryptocurrency exchange. According to data from the U.S. Securities and Exchange Commission (SEC), the NPS purchased 280,000 Coinbase shares during the third quarter of 2023, with an investment amount of $20 million.
The NPS is a government-backed pension fund that manages the retirement funds of South Korean citizens. With over $800 billion in assets under management, it is one of the largest pension funds globally. The fund’s decision to invest in Coinbase demonstrates the growing acceptance and interest in cryptocurrencies among institutional investors.
– Coinbase and its growing popularity: