Cryptocurrency exchange Coinbase announced it has completed the acquisition of One River Digital Asset Management (ORDAM), an SEC-registered investment adviser and a leading institutional digital asset manager.
Following the acquisition, ORDAM will rebrand as Coinbase Asset Management (CBAM) and operate as a wholly-owned subsidiary of Coinbase while retaining its independent status. This purchase is in line with Coinbase's strategic plans to expand opportunities for institutional investors in the cryptoeconomy.
Coinbase has made a strategic acquisition of One River Digital Asset Management.
— Coinbase (@coinbase) March 3, 2023
This acquisition marks the formation of Coinbase Asset Management and will enable additional institutional access to the cryptoeconomy.
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Coinbase says it has a history of close partnership with ORDAM. ORDAM collaborates with Coinbase Prime to provide advanced investment solutions to sophisticated institutional investors, and the two companies are working together to develop pioneering digital asset management infrastructure.
Eric Peters will continue to serve as the CEO/CIO of ORDAM (now CBAM) as well as the CEO/CIO of One River Asset Management, an unaffiliated and independent business.
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