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Pathfinder KiwiSaver invests in crypto infrastructure

Fuseworks Media
Fuseworks Media

Pathfinder KiwiSaver announced today it is investing as part of the $17 million capital raise into leading New Zealand cryptocurrency retail platform, Easy Crypto. Easy Crypto aims to be a global one-stop-shop for crypto assets.

John Berry, Chief Executive explains "While we are not ready to invest in cryptocurrency itself, this investment is into crypto infrastructure. The Easy Crypto platform is helping to solve a global problem, providing a secure trading foundation. The positive social impact of this aligns with our wider ESG strategy".

"It’s an ecosystem with potential to democratise finance for people around the world who lack access to a conventional banking system. There are thought to be 1.7 billion adults around the world who are ‘unbanked’. They are shut out from opportunities for financial security."

"There are still some issues to be resolved around the energy needs of currencies like Bitcoin and the anonymity that crypto provides. But these concerns need to be balanced against potential positives for an ethical investor from decentralised finance (DeFi). This is much more than just trading cryptocurrency."

Berry continues - "Pathfinder KiwiSaver has previously invested in the Women’s Livelihood Bond, providing micro-finance to women in South-East Asia. Given EasyCrypto are launching offshore in the Philippines, a country with a significant number of adults without access to banking, we see this as an aligned social investment."

Paul Brownsey, Chief Investment Officer at Pathfinder, explains "while some uncertainty remains around the cryptocurrency sector, with technology advancing so fast there is potential for significant disruption. We are not buying Bitcoin or other cryptocurrencies, we are investing in infrastructure which could be a key part of finance’s future, particularly for those currently shut out of banking. We’re excited to play a small part in the global growth of New Zealand’s leading crypto player."

Pathfinder, NZ’s first dedicated ethical fund manager, is a leader when it comes to environmental, social and governance (ESG) investing. The Easy Crypto investment adds to its existing unique and impactful KiwiSaver investments including Sir John Kirwan’s technology driven mental health app (Mentemia), large scale solar in New Zealand (Lodestone), community housing projects (Community Finance), biodegradable bandages (Wool+Aid), microfinance for women in South-East Asia (Women’s Livelihood Bond) and the tech-based democratisation of investing (Sharesies).

The B-Corp certified fund manager was awarded "Best Ethical KiwiSaver Provider 2021" by MindfullMoney.

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