Investment Bank Cowen (COWN) Launches Digital Asset Unit

[kienthuctienao]

U.S. full-service investment bank Cowen Inc. (COWN) announced on Wednesday, March 23, that it has launched a dedicated digital asset division, becoming the latest Wall Street bank to enter the emerging cryptocurrency space.

The new unit named Cowen Digital will allow the bank's institutional investors to trade established cryptocurrencies, including Bitcoin, Ethereum, and Solana. It will also provide a custody solution to store digital assets through Standard Custody & Trust Co.

"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," Jeffrey Solomon, Cowen's chair and CEO, said in a statement. "Cowen is committed to outperforming for its clients by staying at the forefront of innovation," he added.

[TomPluz]

Interestingly, this is not the first nor the last bank to finally jump to take advantage of the growing possible profits that they can make in the cryptocurrency market. When banks can sense a huge demand coming from their captured clients, the incentive to get into it is so irresistible. I am sure that Cowen Digital is making the right decision to enter the crypto space...and I am sure that soon we can hear other banks making the same move.