Coinbase Prime to Power New Institutional-Grade Account for Wealth Managers

  • Coinbase Prime will power the new separately managed ONE Digital SMA account, the companies announced.
  • Brett Tejpaul, head of Coinbase Institutional, said in a press release that the partnership with One River Digital will help both companies “meet changing customer needs.”

One River Digital Asset Management and leading cryptocurrency exchange Coinbase have partnered to launch a new institutional-grade separately managed account (SMA) for wealth managers and other institutional investors, according to a press release published Friday.

ONE Digital SMA will be powered by Coinbase Prime will offer a suite of digital asset investment strategies and services that wealth managers can easily and directly access, the two companies said in a statement.

The platform also offersa first look at the future of asset management in a financial system transitioning to a blockchain-enabled infrastructure“, they added.

ONE Digital SMA, according to Coinbase, is for wealth managers looking to provide their clients with direct exposure to crypto investing. The account will offer full transparency and come with other features such as staking.

Brett Tejpaul, head of Coinbase Institutional, noted that the launch of the SMA came at a time when owners of digital assets were increasingly moving away from research for digital implementation. In 2022, he added, customers were more inclined to hold their digital assets in separate accounts that they control.

He also noted that clients are increasingly looking for investment management services that deliver the same quality they are used to in traditional markets.

The new offering will be crucial in meeting ever-changing customer needs and demands, the Coinbase executive noted.

ONE Digital SMA is the best of both worlds – it offers market-leading access and secure custody through Coinbase Prime and institutional-grade investment products and services from One River Digitalsaid Tejpaul.

One River Digital Asset Management is a leading asset manager with approximately $2.5 billion in institutional assets. The company launched its services in 2013.

Dolores W. Simon