A hundred-year-old investment bank #Cowen will provide #cryptocurrency #custody #services for #hedge funds and asset managers . In a statement made by the bank yesterday, the company's Standard Custody & Trust Co. reported that it will provide institutional level custody services for cryptocurrencies and other digital assets. Cowen will also invest $ 25 million in Standard's parent company, PolySign.
Cowen's CEO, Jeffrey Solomon, stated that there is a high demand, "We will soon be able to help our corporate customers break down barriers and start trading digital assets." said.
Cowen started its activities 103 years ago, in 1918. The total value of the assets under the management of the New York-based company, which employs more than 1,300 people, is $ 12 billion according to the figures for the third quarter of 2020.
#Institutional interest in cryptocurrencies continues. Just yesterday, it turned out that Steve Cohen, the dollar billionaire hedge fund manager and owner of the Point72 asset management company, is also preparing to enter the cryptocurrency market. Cohen said that the cryptocurrency market, which has reached $ 2 trillion today, cannot be ignored.