Cowen at the start proclaimed plans to maneuver into the crypto custody business in could 2021, entering a partnership with normal Custody and trust corporation.
Cowen, a significant american independent investment bank, has formally launched a dedicated cryptocurrency and digital plus division.
Called Cowen Digital, Cowen’s new business is meant to supply full-service trade execution and custody for cryptocurrencies like Bitcoin (BTC) and alternative digital assets for institutional investors, the firm declared on weekday.
In order to launch the new crypto division, Cowen has collaborated with PolySign’s cold storage-focused subsidiary, normal Custody and trust company. The bank is additionally a consumer of Digital Prime Technologies, a brokerage solution-focused firm providing business and compliance services, the announcement notes.
Cowen at first declared plans to maneuver into the crypto custody business in could 2021, getting into a partnership with normal Custody and trust corporation at the time. the company also invested $25 million in Standard’s parent company PolySign, that was co-founded by Ripple chief technology officer David Schwartz.
According to the announcement, Cowen has been engaged on building the infrastructure and systems necessary to launch Cowen Digital over the past fifteen months.
Managing concerning $16 billion in assets as lately 2021, Cowen could be a major investment bank within the united states. the corporate is committed to outperforming its purchasers by “staying at the forefront of innovation,” Cowen CEO Jeffrey M. solomon said, adding:
“Through Cowen Digital, our clients now have access to the crypto and digital asset markets with our institutional quality and fully integrated end-to-end execution and custody capabilities.”
( Helen Partz, Cointelegraph, 2022 )