The post South Korea’s (NPS) Hold $19.9 million in Coinbase! appeared first on Coinpedia Fintech News
South Korea’s National Pension Service (NPS) has made its first foray into the virtual asset industry by purchasing $19.9 million (26.1 billion won) worth of shares in Coinbase, the largest cryptocurrency exchange in the US. This is the first time the NPS has invested in a virtual asset-related company through its US stock portfolio. Coinbase, which was listed on Nasdaq in April 2021, has seen its stock price and virtual asset trading volumes rise in line with the increase in trading volumes and performance. As Bitcoin continues to show strength following the NPS’s purchase, the pension fund is reportedly making a profit of around 40% in just one quarter.