US Investment Bank Cowen Launches Digital Assets Division

Cowen, an independent investment bank in the United States, has officially created a cryptocurrency and digital asset section. The division came to life as a result of its partnership with PolySign, Standard Custody and Trust Company.

They have partnered with PolySign’s cold storage subsidiary, Standard Custody and Trust Company, to develop the new crypto business. According to the release, the bank is also a client of Digital Prime Technologies, a brokerage solution-focused corporation that provides business and compliance services.

“Cowen Digital has been trading crypto on behalf of our clients for several months. In conjunction with our integrated partners Standard Custody and prime brokerage solutions provider, Digital Prime Technologies, it 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,”

Dan Charney, Co-President of Cowen and Company.

Standard Custody & Trust is part of Polysign, where the technology was developed by two Ripple technologists, Arthur Britto and David Schwartz, who co-created Ripple’s XRP Ledger. Britto founded Standard, and its current Vice Chairman was the former Vice Chairman at BNY Mellon.

Apart from the trading and custody unveiled today, the roadmap includes derivatives and futures, financing solutions, institutional DeFi and access to NFTs.

Cowen Digital, the firm’s new division, will provide full-service trade execution and custody for cryptocurrencies such as Bitcoin (BTC) and other digital assets for institutional investors, according to the firm’s announcement on Wednesday.

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