Coinbase announced the acquisition of One River Digital Asset Management (ORDAM), a subsidiary of One River Asset Management.
ORDAM investment consultant will form the basis of Coinbase Asset Management. According to representatives of Coinbase, this transaction was concluded as part of efforts to achieve the main goal of the company, which is to eliminate the gap between the crypto economy and financial institutions.
ORDAM is a leading digital asset manager that specializes in providing institutional clients with access to assets of the appropriate category through reliable investment products.
The Istria of the interaction between Coinbase and ORDAM began before the implementation of the One River purchase deal. ORDAM uses Coinbase Prime to provide differentiated investment solutions to complex institutions.
Commenting on the cooperation, the companies indicate that as part of their interaction, their goal is to create an innovative infrastructure for managing digital assets. Efforts in this direction have already yielded results in the form of ONE Digital SMA, a set of digital investment strategies and indices on an easy-to-use platform with separate account management (SMA) based on Coinbase Prime and Coinbase Custody.
The parties to the cooperation are followers of the idea of reasonable risk management. The strategy of activity based on this ideological basis has allowed companies to successfully resist the negative consequences of recent market turmoil. Firms also emphasize that their business philosophy defines as absolute priorities the provision of a high level of security and reliability.
After the transaction is implemented, Eric Peters will continue to serve as CEO/CIO of ORDAM, as well as CEO/CIO of asset management of One River, an unaffiliated and independent business. He has more than 30 years of experience in the asset management industry and founded One River Asset Management in 2013.
ORDAM will function as an independent organization under the management of Coinbase, separated from the trading and exchange business, with minimal disruption of current business activity and standard control.
Currently, Coinbase has a quarterly institutional trading volume of more than $130 billion and more than 50 billion institutional assets. The company’s products are designed to provide secure access to digital assets and Web3.
As we have reported earlier, Coinbase Launches L2 Network for dApps.