Financial services firm Cowen, Inc. has launched a dedicated digital asset division called Cowen Digital LLC to offer full-service trade execution and custody solutions for its institutional clients. The division will provide institutional grade end-to-end secure and compliant access to cryptocurrencies such as Bitcoin, and other digital assets for institutional clients.
The custody solutions will be provided through Cowen’s strategic partnership with PolySign’s Standard Custody & Trust Co., which is an institutional-grade custody, trading and settlement platform for cryptocurrency and digital assets.
Meanwhile, the brokerage solutions will be provided through Cowen’s partnership with Digital Prime Technologies, which enables clients to quickly and easily deploy a full suite of prime brokerage solutions.
Cowen Digital has been trading crypto on behalf of its clients and has been building the infrastructure and systems over the past 15 months to launch these services now for its institutional clients. Drew Forman has been appointed as the Head of Cowen Digital.
The new division brings in proven expertise in traditional finance to support and assist institutional clients as they plan and execute their digital asset investment strategies with the support of Cowen’s integrated institutional-grade infrastructure.
Institutional clients will benefit from streamlined operational and capital efficiencies as well as post-trade reporting. They can trade directly from Standard Custody’s cold storage solution and receive flexible net settlement arrangements.
The clients will also have access to expert analysis from Cowen Research and its policy experts, Washington Research Group. In future, they will also have access to functionalities such as derivatives and futures, financing solutions as well as institutional DeFi and NFT access.
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