Coinbase, one of the leading cryptocurrency exchange platforms globally, has announced partnering with OneRiver Digital Assessment Management
Exchange of cryptocurrencies Coinbase has entered into a collaboration agreement with One River Digital Assessment Management to offer a unique platform for institutional-grade wealth managers to buy digital asset investments and conduct associated operations. According to Brett Tejpaul, president of Coinbase Institutional, Prime customers desire to hold digital assets in their own segregated account but also expect the same level of investment management services as they do with conventional investments.
In the announcement, Coinbase summarized the service by 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.”
The account, which is available via Coinbase Prime, offers institutional investors with access to a range of digital investing strategies and indices through an intuitive SMA (separately managed account) platform. As a result, wealth management businesses and major financial advisers will be able to handle an ever-increasing share of their clients’ assets.
To use this functionality, users must be Coinbase Prime members. Prime is a subscription-based service that enhances the trading experience and adds new features to the exchange. Additionally, Prime utilizes a custody mechanism, which allows the exchange to safeguard the assets of high-net-worth individuals.
Coinbase and One River are not the only companies competing in this rapidly growing segment of the industry. Grayscale, one of the industry’s top asset managers, provides a variety of trust products that trade over-the-counter and are available to ordinary investors through platforms such as Fidelity and Wealthfront.