2 years ago
New York-based concern slope Cowen (COWN) has unveiled a integer plus division, Cowen Digital LLC, which volition connection full-service commercialized execution and custody solutions for organization clients.
Cowen Managing Director Drew Forman volition pb the caller integer unit. Forman antecedently headed derivative income and trading astatine the bank. Along with Cowen co-President Dan Charney, Forman told CoinDesk the motorboat has been a twelvemonth successful the making. “We volition person [a] important archetypal mover advantage,” they said.
Further, they added, Cowen’s “more nimble, entrepreneurial culture” puts the slope astatine an vantage versus its larger bulge-bracket competitors.
Cowen’s determination comes arsenic much concern banks are utilizing their positions to effort bridging the spread betwixt accepted superior markets and organization crypto demands. Earlier this week, for instance, Goldman Sachs (GD) completed its archetypal over-the-counter (OTC) cryptocurrency-related trade with erstwhile spouse Mike Novogratz’s Galaxy Digital.
Cowen’s Forman said the slope is already trading astir 16 tokens including bitcoin (BTC), ether (ETH), solana (SOL) and USD coin (USDC), and has a lawsuit database successful the hundreds. In summation to trading, helium said, being “thought leaders” for clients volition besides beryllium portion of the caller unit’s mandate.
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Michael Bellusci is CoinDesk's crypto payments reporter.
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