Investment Bank Cowen Launches Crypto Division

  • Cowen Digital will provide institutional investors with “full-service trade execution and custody solutions” for cryptocurrencies.
  • The bank has been working on this project for 15 months, and now allows trade between 16 different cryptocurrencies.
crypto trading


United States-based investment bank Cowen has officially launched a new division that will enable institutional customers to trade with cryptocurrencies, the company said in a press release on 23 March.

According to the announcement, the bank’s new division, called Cowen Digital, was designed to offer institutional investors “full-service trade execution and custody solutions” for cryptocurrencies. The new service allows customers to trade between 16 different cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), USDC, AAVE, and others. The CEO of Cowen, Jeffrey M. Solomon, said in a statement:

“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. Cowen is committed to outperforming for its clients by staying at the forefront of innovation.”

The bank revealed its plans to enter the crypto market back in May 2021, when it partnered with Standard Custody and Trust Company, and also invested $25 million into PolySign, the parent company of Standard Custody. The Wednesday press release noted that the bank has been working on building up its infrastructure and systems for crypto trading for the past 15 months.

Cowen Digital also plans to grow its crypto business in the future, and include derivatives and futures trading, tools for managing decentralized finance (DeFi), as well as non-fungible tokens (NFTs). The bank has joined other traditional finance institutions in making moves in the digital asset space, such as Goldman Sachs which completed its first ever over-the-counter crypto transaction earlier this week, in partnership with Galaxy Digital.

Related Coverage
Coinbase to Shut Down Coinbase Pro Platform
  • Launched in 2018, Coinbase Pro was designed to provide advanced traders with unlimited trading volumes, as well as a larger choice of cryptocurrencies.
  • Coinbase plans to replace “Pro” with its Advanced Trade feature by the end of the year, bringing all of its services under the same platform.
June 23, 2022, 3:05 PM
Coinbase co-founder and CEO Brian Armstrong speaking at TechCrunch Disrupt SF 2018

Coinbase co-founder and CEO Brian Armstrong speaking at TechCrunch Disrupt SF 2018. Steve Jennings/Getty Images for TechCrunch

BitMEX Launches Crypto Spot Trading Platform
  • Initially, the BitMEX Spot Exchange will support seven crypto assets, including BTC, ETH, LINK, UNI, MATIC, AXS, APE, all traded against the USDT stablecoin.
  • The celebrate the launch of the crypto spot exchange, BitMEX has launched a giveaway with over $1 million in crypto prizes.
Gemini Announces Prime Services With Omniex Acquisition
  • The acquisition of Omniex was the second one this year, with Gemini acquiring digital asset management startup Bitria last week.
  • The company also revealed the launch of Gemini Prime, which will attract institutional investors by providing access to multiple exchanges and OTC liquidity.