• Coinbase announced the acquisition of One River Digital Asset Management (ORDAM) on March 3.
• ORDAM will become Coinbase Asset Management (CBAM) as an independent subsidiary.
• CBAM will focus on institutional consumers, providing them with “industry-leading products and services”.
Coinbase Acquires One River Digital Asset Management
Coinbase has announced the acquisition of One River Digital Asset Management (ORDAM), which will be transformed into Coinbase Asset Management (CBAM). The move is intended to enhance institutions‘ access to crypto assets and provide them with industry-leading products and services.
Background Information
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 through Coinbase Prime.
Eric Peters To Remain In His Role
Eric Peters, current CEO of ORDAM, will remain in his duty and continue chairing CBAM after the acquisition is complete. According to Coinbase, both companies share an ethos grounded in prudent risk management that has enabled them to successfully navigate recent market turmoil.
CBAM Goals & Objectives
The two companies have joined forces to build an innovative digital asset management infrastructure tailored specifically for institutional customers. CBAM aims to provide these customers with industry-leading products and services while prioritizing investor safety at all times.
Conclusion
Coinbase’s acquisition of ORDAM is likely to pave the way for further institutional adoption of crypto assets by providing safer investment options tailored towards this sector. By joining forces, both companies are looking towards a future where digital asset management infrastructures can offer investors security while unlocking more opportunities within this growing space.