Leading American independent investment bank Cowen has officially launched a specialized division dedicated to crypto and digital assets. Dubbed Cowen Digital, the new business arm will offer full-service trade execution and custody for crypto and other digital assets to institutional investors. Cowen chief executive officer Jeffrey M. Solomon spoke on the development saying:
“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.”
For the new crypto initiative, Cowen is also teaming up with Standard Custody and Trust Company, a cold storage-focused subsidiary of PolySign.
Back in May last year, Cowen initially declared its intention to enter the crypto custody space. At the time, the American multinational investment and financial services platform also entered a partnership with Standard Custody and Trust Company. In addition, Cowen also invested $25 million in Standard’s parent company PolySign, which was co-founded by David Schwartz, chief technology officer at Ripple. In all, Cowen stated that its Cowen Digital initiative was fifteen months in the making. Furthermore, future offerings for the crypto division also include derivatives and futures, financing solutions, and institutional tools for managing DeFi and NFTs.
As of late last year, Cowen had about $16 billion in assets under management (AUM). The major independent investment bank aims to outperform its clients by continuing to lead the way in innovation.
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