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Coinbase partners with OneRiver to create a new institutional platform

Coinbase Will Go Public, But Not Via IPO
Coinbase Will Go Public, But Not Via IPO

Coinbase, one of the leading cryptocurrency exchange platforms globally, has announced partnering with OneRiver Digital Assessment Management. This partnership focuses on institutional-grade wealth managers.

The two firms will work together to launch an exclusive platform that will be used to acquire digital asset investments and partake in other related services.

Coinbase partners with OneRiver

An official blog post states that Coinbase will work with OneRiver to create a ONE Digital SMA. The latter will be used to give investors the exposure needed in investing in “a suite of digital investment strategies and indexes in an easy-to-use separately managed account platform.”

Users that want to gain access to this feature will have to be on Coinbase Prime. Coinbase Prime is a subscription-based service that offers exchange users an enhanced trading experience and more trading features. Coinbase Prime also has a custody model that enables the exchange to protect the assets of high net-worth investors.

Coinbase commented on this partnership, saying, “ONE Digital SMA is a solution for wealth managers that want to give clients access to crypto through direct ownership of assets, complete transparency and the ability to optimize future returns through value-added services like staking.”

Coinbase invests in OneRiver

Coinbase Ventures has been one of the largest investors in the cryptocurrency sector. The venture capital firm has partnered with some of the leading players in the sector. In September 2021, Coinbase Ventures was involved in a $41 million Series A funding round for One River Digital, the crypto hedge fund division for One River Asset Management.

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The other firms involved in this funding round included Liberty Mutual Insurance and Goldman Sachs, one of the largest financial institutions on Wall Street. The funding round aimed to boost the level of crypto adoption by institutional players in the US and other countries.

According to recent valuation data, One River Asset Management is estimated to hold around $2.3 billion in assets under management. Despite being one of the largest players in the sector, One River ranks behind Grayscale, the world’s largest digital asset management company.

Digital asset management firms have recorded high adoption levels over the past year. This follows an influx of institutional players in the crypto space who want to gain exposure to digital assets. However, digital asset management firms are also affected by volatility across the broader cryptocurrency market, with the AUM rising and dropping according to market prices.

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