• Coinbase announces the acquisition of One River Digital Asset Management (ORDAM)
• The new subsidiary, Coinbase Asset Management (CBAM), will focus on institutional clients
• Eric Peters, ORDAM’s current CEO, will remain in his duty and continue chairing CBAM after the acquisition.
Coinbase Acquires One River Digital Asset Management
Coinbase has announced the acquisition of One River Digital Asset Management (ORDAM) on Mar. 3. Under Coinbase, ORDAM will transform into Coinbase Asset Management (CBAM). This new independent subsidiary owned by Coinbase will focus on institutional clients providing them with industry-leading products and services.
Joint Passion for Investor Safety
The announcement stated that both companies have a shared passion for investor safety. With the joint effort to „build an innovative digital asset management infrastructure,“ these two organizations are strongly aligned when it comes to pursuing opportunities in digital assets with a priority on safety and soundness.
Eric Peters Will Remain in Duty
Before the acquisition, ORDAM was a subsidiary of One River Asset Management under the U.S Securities and Exchange Commission (SEC). As a digital asset manager, it focused on exposing institutional clients to digital assets through investment products offered by Coinbase Prime. According to the announcement, ORDAM’s current CEO Eric Peters, who chaired this organization before the purchase, will continue chairing CBAM after the acquisition is completed.
OR Dam is an investment adviser registered with SEC as a subsidiary of One River Asset Management focusing on providing institutional clients access to digital assets through offering various investment products using Coinbase Prime platform as well as other services such as risk management strategies and portfolio construction consulting services.
By acquiring OR Dam, Coinbase is positioning itself even more prominently within institutional Crypto market aiming at offering liquidity solutions for its customers which can potentially drive larger investments into crypto space from institutions across US and beyond its borders..