March 3 (Reuters) – Coinbase Inc (COIN.O) has acquired One River Digital Asset Administration (ORDAM), the cryptocurrency change stated on Friday because it goals to beef up providers and reap the benefits of weak valuations of digital asset corporations.
The corporate didn’t disclose the monetary particulars of the deal, during which ORDAM will turn out to be Coinbase Asset Administration and function as a fully-owned unit of Coinbase.
ORDAM is a digital asset supervisor that gives institutional shoppers publicity to digital property by means of funding merchandise.
Eric Peters will proceed to function chief govt of Coinbase Asset Administration in addition to One River Asset Administration, the mother or father firm of ORDAM.
“Coinbase and ORDAM share an ethos grounded in prudent threat administration, a trait which has enabled each corporations to efficiently navigate the current market turmoil,” Coinbase stated in a blog.
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