Cowen, an independent US investment bank, has officially launched a department dedicated to cryptocurrencies and digital assets.

The new company, Cowen Digital, is designed to provide institutional investors with a full suite of transaction execution and deposit services for cryptocurrencies such as Bitcoin (BTC) and other digital assets, the company announced on Wednesday.

To launch its new crypto division, Cowan has partnered with PolySign’s Standard Custody and Trust Company focused on cold storage. The announcement notes that the bank is also a client of Digital Prime Technologies, a brokerage solution company that offers business and compliance services.

Cowan originally announced plans to enter the cryptocurrency depot in May 2021, when he partnered with Standard Custody and Trust Company. The company has also invested $ 25 million in Standards’ parent company, PolySign, co-founded by Ripples CTO David Schwartz.

According to the announcement, Cowen has built the infrastructure and systems needed to launch Cowen Digital in the last 15 months.

By the end of 2021, with approximately $ 16 billion in total assets, Cowen is a major investment bank in the United States. Quinn CEO Jeffrey M. Solomon said the company strives to outperform its customers by “staying ahead of innovation,” adding:

“With Cowen Digital, our customers can now access crypto and digital asset markets with integrated enterprise quality, end-to-end storage and execution capabilities.”
Related: Citi’s Digital Asset Co-CEOs End Plans to Build a Crypto Startup

Cowen Digital’s future features will also include derivatives, futures, financial solutions, institutional tools for managing decentralized finance, and non-fungible tokens, according to the announcement.

This news comes shortly after the American investment bank Goldman Sachs implemented its first OTC cryptocurrency trading in collaboration with the investment company Galaxy Digital. Earlier in February, JPMorgan Chase launched a virtual living room in the Decentraland Metaverse District.

Source: CoinTelegraph

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