River

River operates as a Bitcoin-only financial institution, established in 2019 by co-founders Alexander Leishman and Andrew Benson. Leishman, who serves as CEO and CTO, has a background in aerospace engineering and a Master's in Computer Science from Stanford, with prior roles at Airbnb's security team and Polychain Capital. This experience in security and Bitcoin shaped the company's core tenets of prioritizing the security of client funds through proprietary, multi-signature cold storage solutions.

The company provides a suite of financial services centered exclusively on Bitcoin for a clientele that includes individuals, high-net-worth clients, family offices, and businesses such as corporations and trusts. Its primary services are a Bitcoin brokerage for buying and selling the asset, secure custody services, and Bitcoin mining operations. Revenue is generated through a spread on Bitcoin trades, although it offers zero-fee recurring buys to encourage dollar-cost averaging. There are no fees for account opening, maintenance, or custody.

Clients interact with River through its website and mobile iOS application, which was launched in early 2021. The platform is designed for long-term investors and offers features like performance tracking, tax optimization tools like Form 1099-B generation, and inheritance planning. For businesses and high-volume traders, River provides a 'Private Client' service with dedicated relationship managers. The company also integrates the Lightning Network to facilitate faster transactions. A key operational principle is maintaining full control over its custody infrastructure to minimize third-party risk.

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