Coinbase Acquires One River Digital Asset Management
TL;DR Coinbase bought One River Digital Asset Management, a SEC-registered institutional digital asset manager. The acquisition will form the foundation of Coinbase's investment advisory service for institutional clients. No amount was disclosed for the acquisition.
Cryptocurrency exchange Coinbase (COIN) said it bought One River Digital Asset Management, an institutional digital asset manager registered with the U.S. Securities and Exchange Commission (SEC).
One River Digital, a subsidiary of One River Asset Management, will become Coinbase Asset Management (CBAM) and will "form the foundation" of Coinbase's investment advisory service for institutional clients, the exchange said in a blog post Friday.
No amount was disclosed for the acquisition.