The US multinational investment bank is among the first on Wall Street to launch spot cryptocurrency trading.
Institutional clients of the New York-based independent investment bank will be able to get spot crypto trading services. This comes after multiple other Wall Street investment banks started offering various digital asset features, but not spot trading.on March 23 Cowen Inc’s new offering, allowing institutional investors to trade crypto, putting the bank “at the front of Wall Street’s push into the expanding industry.
To do so, the bank has set up a new branch – called Cowen Digital – and has added 16 of the largest cryptocurrencies, including Bitcoin, Ethereum, and Solana. The bank has also partnered with Standard Custody & Trust Co, which will serve as the digital assets’ custodian. After years of bashing the crypto industry, Wall Street started softening its stance last year, and numerous banks launched different services allowing their clients to receive some sort of digital asset exposure.
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