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Coinbase acquires One River Digital to expand into institutional digital asset management

Coinbase acquires One River Digital to expand into institutional digital asset management

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TL;DR

  • Coinbase has announced the acquisition of One River Digital Asset Management.
  • One River Asset Management will be rebranded as Coinbase Asset Management.

Coinbase, a cryptocurrency exchange platform, has announced the acquisition of One River Digital Asset Management, an institutional digital asset manager registered with the US Securities and Exchange Commission (SEC). Coinbase aims to expand its services beyond catering to individual or retail customers through this latest move.

One River Digital management rebrands

On Friday, Coinbase announced that One River Digital, a subsidiary of One River Asset Management, will be rebranded as Coinbase Asset Management and will form the foundation of its investment advisory service for institutional clients. This move is part of Coinbase’s strategy to diversify beyond retail trading amidst declining transaction volumes in recent months. In addition, the exchange has also developed a layer 2 blockchain Base, with its test network released last week. This further underlines their commitment to expanding into the developer sector.

Eric Peters, CEO and Chief Investment Officer of One River Digital and CEO and CIO of One River Asset Management will remain at the helm as Coinbase and One River Digital team up to offer Coinbase Prime users separate managed accounts. This strategy allows users to hold their assets while accessing external asset management expertise. The collaboration between Coinbase and One River Digital was initiated in February last year.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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