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Cowan, an investment bank, was established in 1918 and launched a cryptocurrency service in collaboration with Standard Custody & Trust Co. to help institutional clients “seamlessly protect, access and utilize cryptocurrencies and digital assets in their portfolios.” Assets.” Cohen’s CEO said: “The demand is clearly here. We will be able to help many institutional clients get out of trouble and start trading digital assets.”
Investment bank Cowen Inc. (NASDAQ: COWN) said on Thursday that it will begin to provide “institutional-grade” custody for cryptocurrencies through a partnership with Standard Custody & Trust Co. The company was founded in 1918 and is headquartered in New York, with offices around the world.
According to the announcement on Thursday, the goal of the partnership is to enable “Cowen’s institutional clients to seamlessly protect, access and utilize the cryptocurrency and digital assets in their portfolio.”
Cowen CEO Jeffrey Solomon said in an interview:
The demand is clearly here. We will be able to help many institutional clients get out of trouble and start trading digital assets in the near future.
He added: “If you are an institutional investor with trust requirements, the threshold for you to put your investment on any asset without a clear chain of custody is high, and you can visit it at any time.”
Cowan also led a US$53 million Series B financing through a US$25 million strategic investment in Polysign Inc., Standard’s parent company. Polysign is developing products that will allow financial institutions to use digital assets more. Other participants in the fundraising round include Blockchain.com, Race Capital, Sandia Holdings and Pilotrock Investments. The announcement details: “These funds will be used to accelerate the continuous development of Polysign’s institutional blockchain application.”
This week, the New York State Department of Financial Services awarded the Standard Limited Use Trust Charter.
What do you think of investment bank Cowan’s entry into the cryptocurrency field? Let us know in the comments section below.
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