The New York-based investment bank will offer institutional clients crypto services following the launch of a new digital asset division.
Based on the official press release by Cowen, the Wall Street bank will be diving into the cryptocurrency market in partnership with a FinTech startup company PolySign.
The new unit, named Cowen Digital LLC, will offer institutional investors the full package of digital asset services that include trading and crypto custody solutions.
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More specifically, Cowen’s digital unit will offer institutional clients "aggregated liquidity through one trusted counterparty", high and low touch trading, custody and trading solutions through the company’s cold storage, "post-trade reporting", and expert analysis from Cowen and the Washington Research Group.
Chair and CEO of Cowen Jeffrey M. Solomon spoke on the newly instigated digital asset branch, stating:
"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. Cowen is committed to outperforming for its clients by staying at the forefront of innovation."
Other than that, the investment bank’s crypto unit will be working on staking and financing services with futures and derivatives, alongside access to NFTs, and decentralized finance (DeFi) solutions.
Co-President of Cowen Dan Charney has expressed immense support for the company’s entrance into the digital asset market, and, with the new cryptocurrency unit, he expects the company to provide its "institutional client base with the same dedicated level of thought leadership, product capability, service and professionalism they have come to expect from Cowen."
