the American investment bank Cowen had announced that it intends to enter the digital asset sector. She had specifically highlighted her intention to offer services in the field of cryptocurrency storage. To this end, it has entered into a partnership with Standard Custody and Trust Company.
The famous American independent investment bank Cowen has just officially entered the crypto sector by creating a new internal department. She announced on Wednesday that it will be exclusively dedicated to cryptocurrencies and digital assets. This new division called Cowen Digital will offer a complete transaction execution and storage service for cryptocurrencies such as bitcoin (BTC). It will manage many other digital assets for institutional investors.
Future features of Cowen Digital also include the creation of derivatives and futures as well as financing solutions. The department will also offer institutional tools for the management of decentralized finance and non-fungible tokens. Jeffrey M. Solomon, CEO of Cowen, said, “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 custody and execution capabilities. ”
It must be said that Cowen is a major investment bank in the United States, with approximately $16 billion in assets under management at the end of 2021. The company is committed to outperforming its performance by offering its clients cutting-edge solutions.
In addition, Cowen’s announcement came shortly after the realization of a project by the American investment bank Goldman Sachs. Indeed, the latter had executed its very first over-the-counter trading operation on cryptocurrencies by collaborating with the digital asset investment company Galaxy Digital.
The actions preceding the launch of this new department
Cowen said he previously collaborated with several companies to create his new department dedicated to digital assets. In particular, it has entered into a partnership with Standard Custody and Trust Company, the subsidiary of PolySign, which specializes in cold storage. The bank has also invested $25 million in PolySign (Standard’s parent company). It must be said that this group was co-founded by Ripple’s Chief Technology Officer, David Schwartz.
Also to launch its cryptocurrency division, Cowen worked with Digital Prime Technologies. The latter is a company specializing in brokerage solutions. It also provides business and compliance services. That said, Cowen announced that they have been working for the past 15 months to put in place the necessary infrastructure and systems for the official start of operations for Cowen Digital.
