• Coinbase announced the acquisition of One River Digital Asset Management (ORDAM) on Mar. 3.
• Under Coinbase, ORDAM will transform into Coinbase Asset Management (CBAM), which will operate as an independent subsidiary wholly owned by Coinbase.
• CBAM will focus on institutional consumers and provide them with „industry-leading products and services.“

Coinbase Acquires One River Digital Asset Management

Coinbase announced the acquisition of One River Digital Asset Management (ORDAM) on Mar. 3 in an effort to enhance institutions’ access to crypto assets. Under Coinbase, ORDAM will transform into Coinbase Asset Management (CBAM), which will operate as an independent subsidiary wholly owned by Coinbase.

CBAM’s Focus

CBAM will focus on institutional consumers and provide them with “industry-leading products and services” in order to build innovative digital asset management infrastructure. The two companies share a joint passion for investor safety, making this partnership a perfect fit for both parties involved.

Eric Peters’s Role

The current CEO of ORDAM, Eric Peters, will remain in his duty and continue chairing CBAM after the acquisition is complete. Before the acquisition, ORDAM was a subsidiary of One River Asset Management, an investment adviser registered with the U.S Securities and Exchange Commission (SEC). As a digital asset manager, ORDAM focused on exposing institutional clients to digital assets by offering investment products.

ORMDM’s Use Of Coinbase Prime

According to the announcement, ORDAM had been using Coinbase Prime to offer investment products to its institutional customers before the acquisition was made official by both parties involved.

Conclusion

The joint venture between these two companies is beneficial for investors who are looking for reliable sources when it comes to cryptocurrency investments such as Bitcoin and other digital assets that have yet to be discovered or explored further within the market space. With this partnership in place, more people may feel encouraged or comfortable investing in cryptocurrencies knowing that they have trusted partners like Coinbase protecting their investments through sound risk management practices