Investment bank Cowen Inc. has entered cryptocurrency trading through its new digital unit, the company announced in a statement.
Dubbed as Cowen Digital, the unit will offer institutional investors — hedge funds, mutual funds, and family offices — spot cryptocurrency trading and custody through Standard Custody & Trust Co.
The unit will be a wholly-owned subsidiary of Cowen Inc. It is looking at offering derivatives, financing solutions, institutional decentralized finance, and access to non-fungible tokens in the future.
Cowen said it spent the last 15 months building the infrastructure and systems for the platform, which will allow clients to trade cryptocurrencies such as Bitcoin, Ethereum, and Solana.