Cowen is a crucial American autonomous investment bank that has officially inaugurated an attached digital currency and digital asset division. Called Cowen Digital, Cowen’s current business is constructed to give entire-assistance business enactment and custody for digital currencies like Bitcoin and other digital assets for institutional investors. To launch the new crypto division, Cowen has united with PolySign’s cold storage oriented subsidiary, Standard Custody and Trust Company.
The bank is also a customer of Digital Prime Technologies, a brokerage solution-focused company furnishing business and submission assistance. Cowen declared agenda to move into the crypto custody business in May 2021. By joining hands with Standard Custody and Trust Corporation. The corporation also financed $25M in Standard’s parent firm named PolySign, which was co-founded by Ripple chief technology administrator David Schwartz.
As per the recent announcement, Cowen has been working on creating the infrastructure and networks vital to launch Cowen Digital over the last one and a half years. Cowen CEO Jeffrey M. Solomon said, managing around $16 billion in assets by the end of 2021, Cowen is a crucial investment bank in the U.S The firm is dedicated to exceeding its customers by keeping up at the lead of innovation. Around Cowen Digital, the customers have access to the crypto and digital asset markets with the institutional integrity and fully integrated end-to-end execution and custody abilities added Cowen.
Prospective features for Cowen Digital will also comprise results and prospects, financing solutions and institutional devices for governing decentralised finance (DeFi) and nonfungible tokens (NFTs). The announcement arrives quickly after Goldman Sachs, the American investment bank enforced its 1st ever over the counter crypto choices trade cooperation with digital asset investment company Galaxy Digital.
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