Cowen launches digital assets division

The American investment bank Cowen announced the launch of a regulated, institutionally oriented division for trading and custody of cryptocurrencies, Cowen Digital.

Cowen is proud to introduce Cowen Digital — Institutional Solutions for #DigitalAsset Investing. #CowenDigital will provide full-service trade execution & #custody solutions via strategic partnership w @PolySignInc‘s @StandardCustody. Learn More https://t.co/bJRxeMJrd6#Crypto pic.twitter.com/NicSFHeU7n

— COWEN (@Cowen_Inc) March 23, 2022

At the initial stage, clients will have access to trading 16 assets, including Bitcoin, Ethereum, Solana, Aave and USD Coin. In the future, crypto derivatives, DeFi and NFTs are expected to be added.

The initiative was implemented in partnership with Standard Custody (custodial solutions) and Digital Prime Technologies (prime-brokerage solutions).

In May 2021, Cowen invested $25 million in PolySign, the parent company of Standard Custody. PolySign subsequently received a cryptocurrency trust license from the New York State Department of Financial Services.

Earlier in 2021, Cowen launched a $46 million fund to invest in the crypto industry.

Earlier, Goldman Sachs and Galaxy Digital conducted an OTC trade with a cash-settled Bitcoin option.

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