Blockchain
One River Digital Asset Management announces the creation of ONE Digital SMA, powered by Coinbase Prime technology
One River Digital Asset Management is pleased to announce the creation of ONE Digital SMA, a separately managed account powered by Coinbase Prime technology. This integrated offering breaks new ground in the delivery of digital investment strategies and services, while providing an early look at the future of asset management in a financial system transitioning to blockchain-enabled infrastructure. ONE Digital SMA is available today for Institutions, and in time, for Wealth Management.
ONE Digital SMA delivers institutional-quality digital investment strategies directly to a Coinbase Prime account. One River Digital and Coinbase Prime worked together, mapping investment processes, operational workflows, security requirements, permissions and seamless API integrations. In collaboration, Coinbase Prime and One River Digital combine the benefits of the leading Prime trading and custody platform for digital assets, backed by the largest public cryptocurrency exchange, with the institutional fiduciary manager that executed the first large institutional allocation to digital assets1.
A Coinbase Prime user can now access an institutional index and active strategies through ONE Digital SMA, all the while retaining direct ownership of their digital assets. Direct ownership of digital assets in a customer’s Coinbase Prime account is critical as it allows investors to achieve optimal transparency, security, and cost. Further, it can help maximize future return potential by enabling value-added services, such as staking.
Registered investment advisors and private wealth platforms have been asking for best-in-class digital market access, research perspectives, and investment opportunities. At the same time, they need to integrate these new investments into their existing platforms and accounting systems. ONE Digital SMA will deliver integrated market access and investment opportunities for Wealth Management firms. Financial advisors will be able to securely manage an increasingly larger proportion of their clients’ assets, especially as asset tokenization accelerates. These clients will benefit from market-leading access, custody, and institutional-quality investment management.
“As asset owners continue to move from digital research towards digital implementation in 2022, we are finding that many clients prefer to own digital assets in their own segregated account,” said Brett Tejpaul, Head of Coinbase Institutional. “These asset owners also want the same quality of investment management services that they are accustomed to in traditional investments. ONE Digital SMA is the best of both worlds – it delivers market-leading access and secure custody via Coinbase Prime and institutional grade investment products and services from One River Digital. We are thrilled to partner again with One River Digital to meet clients’ evolving needs.”
“Building on top of the Coinbase Prime technology to deliver ONE Digital SMA led us to push boundaries on the best possible user experience,” said Jasmine Burgess, Chief Operating Officer, and Chief Risk Officer of One River Digital. “Clients were previously unable to access actively managed investment services in their Coinbase account, including something as simple as staking. By carefully understanding each of our technical environments, we can deliver managed accounts with institutional security and complete transparency in real time – inaugurating a new era for all SMAs beyond simply crypto underlyings. We are excited to break new ground with ONE Digital SMA, in partnership with Coinbase Prime.”
“We found that clients are increasingly seeking high-quality, diversified exposure that evolves with the market – and they need it integrated in their Prime platforms,” said Sebastian Bea, President of One River Digital. “One River Digital and Coinbase Prime leapt into action, and the resulting investment strategies are now available for institutional investors. ”
“ONE Digital SMA is fundamental to how investment strategies and services will be delivered to institutions and private wealth platforms in the future,” said Eric Peters, CEO and CIO of One River. “Blockchain technologies allow vastly more efficient trading and settlement, and this will push the financial system to tokenize the majority of real and financial assets. Traditional asset management products and services will increasingly be delivered in client-owned digital wallets. Commingled funds, mutual funds, and even ETFs, will ultimately become obsolete,” explained Peters. “One River is building the technologies, infrastructure and partnerships necessary to accelerate the path towards this better future.”
Blockchain
This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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Blockchain
Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR
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