As the need for cryptocurrency continues to grow at a rapid pace, financial company, Cowen has decided to keep up with the trends, building a new digital asset department.
Financial Services Provider, Cowen has recently revealed information about their new department that aims to guide the banks of the United States in engagement towards the digital asset space.
About Cowen Digital
Formally named as, Cowen Digital this new division provides useful services such as, cryptocurrency trading for the likes of institution-based investors and digital asset custody solutions by creating an alliance with the Custody and Trust Company of PolySign. Cowen Digital said in the official announcement that it is working hard to provide the best financial services, futures, derivatives, DeFi and NFTs in the coming times.
Cowen has been in good contact with PolySign since May of last year, providing consumers an easier path to the cryptocurrency space. Dan Charney from Cowen said that Cowen Digital has been taking part in the trading of cryptocurrencies, because of consumer demands for the many months now, being led by Drew Forman, who has managed to take many crucial positions in the firm.
Current Status
A company representative shared details about Cowen Digital contacts, stating that the firm has managed to contact several possible buyers such as, dedicated cryptocurrency firms, asset management companies and strategic hedge funds that are interested in joining the digital asset space. According to the information shared by another representative from Cowen, Cowen Digital has already been trading many of the top cryptocurrencies such as Bitcoin, Ethereum, Polygon, Chainlink and several others that are battling for the throne in the crypto space.
Cowen’s Background and Expansion
This Bank based in the popular city of New York generally gives brokerage and investment management services to its users. Other features include baking services, equity study, commission handling and various others that contribute towards the development of the firm.
Cowen Digital is now available in around 35 states and is working to spread across internationally as well. As of now, the department has submitted the application for an operation license, eagerly waiting for a reply from formal regulators. Cowen Digital was initially introduced with the hard work of around 40 individuals and is now hoping to grow this number, supporting more than a hundred skilled individuals to work with.
