03.24.2022

Cowen Launches Digital Asset Division

03.24.2022

Cowen Inc., announced the public launch of its digital asset division, Cowen Digital LLC. Based in Stamford, Connecticut, the new division offers full-service trade execution and custody solutions on a platform that provides institutional clients with secure and compliant access to the digital asset ecosystem. Custody solutions are provided through Cowen’s strategic partnership with PolySign’s Standard Custody & Trust.

“Through Cowen Digital, our clients now have access to the crypto and digital asset markets with our institutional quality and fully integrated end-to-end execution and custody capabilities,” said Jeffrey M. Solomon, Cowen Chair and Chief Executive Officer. “Cowen is committed to outperforming for its clients by staying at the forefront of innovation.”

Dan Charney, Co-President of Cowen and Company, added: “We are very pleased to publicly announce Cowen Digital, which 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, Cowen Digital 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. That is why I am pleased to announce effective immediately, Drew Forman has been appointed as the Head of Cowen Digital.”

Over the last 15 months Cowen has been focused on building the infrastructure and systems necessary to launch Cowen Digital. The new division brings proven expertise in traditional finance to support and assist institutional clients as they plan and execute their digital asset investment strategies, underpinned by Cowen’s integrated institutional-grade infrastructure.

Cowen Digital, a wholly owned subsidiary of Cowen Inc., enables institutional investors to:

  • Access Cowen’s aggregated liquidity through one trusted counterparty
  • Utilize Cowen’s proprietary algorithms through high-touch or low-touch trading
  • Benefit from streamlined operational and capital efficiencies as well as post-trade reporting
  • Trade directly from Standard Custody’s cold storage solution
  • Avoid pre-funding requirements and receive flexible net settlement arrangements
  • Access expert analysis from Cowen Research and its policy experts, Washington Research Group

Future functionality for Cowen Digital will include derivatives and futures, financing solutions as well as institutional DeFi and NFT access.

Source: Cowen

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