• Coinbase has acquired One River Digital Asset Management (ORDAM) and will transform it into Coinbase Asset Management (CBAM).
• CBAM will provide institutional customers with “industry-leading products and services.”
• ORDAM’s current CEO, Eric Peters, will remain in his duty and continue chairing CBAM after the acquisition.
Coinbase Acquires One River Digital Asset Management
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.
Focus On Institutional Customers
CBAM will focus on institutional consumers and provide them with „industry-leading products and services.“ According to the announcement, the two companies are joining to „build an innovative digital asset management infrastructure“ with a priority on safety and soundness.
ORAMD’s Current CEO To Remain In Role
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. According to the announcement, ORD