Investment banking firm Cowen has announced the public launch of a digital asset division called Cowen Digital LLC.
Cowen has been trading crypto on behalf of their clients for several months now. The new division will provide full-service trade execution and custody solutions on the platform.
The service will be for institutional clients and will provide secure and compliant access to the digital platform.
Jeffrey M. Solomon, Cowen Chair and CEO 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 execution and custody capabilities.”
Cowen Digital will provide custody solutions through a strategic partnership with PolySign’s Standard Custody & Trust, institutional-grade custody, trading and settlement platform for digital assets. It will provide prime brokerage solutions through its partnership with Digital Prime Technologies.
Cowen Digital will also provide institutional investors the benefits of accessing Cowen’s aggregated liquidity, proprietary algorithms and expert analysis from Cowen Research and its policy experts.
The investors will also be able to trade directly from Standard Custody’s cold storage solution and avoid pre-funding requirements along with flexible net settlement arrangements.
Drew Forman was announced as the head of the Digital Asset Division. Dan Charney, Co-President of Cowen and Company said, “Cowen Digital provides our institutional client base with the same dedicated level of thought leadership, product capability, service and professionalism they have come to expect from Cowen.”
The firm also announced future plans for the digital asset division that will include derivatives and futures, as well as DeFi and NFT access.
Cowen was early to enter the crypto market as it has been providing institution-grade crypto custody service since last year and has only now publicly announced its digital asset division.
