Hundred Year Old Investment Bank Will Provide Cryptocurrency Custody Service

Cowen, a well-established investment bank, announced that it will provide cryptocurrency custody services for hedge funds and asset managers.

Hundred year old investment bank will provide cryptocurrency custody service. Cowen announced yesterday that the company will offer enterprise-grade custody services for cryptocurrencies and other assets in partnership with Standard Custody & Trust Co. The company will also invest $ 25 million in PolySing, the parent company of Standard Custody & Trust Co. Cowen's CEO, Jeffrey Solomon, stated that there is a lot of demand, said, "We will soon be able to help our corporate customers overcome barriers and start trading digital assets." 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 over 1,300 people, was recorded as 12 billion dollars according to the third quarter of 2020 data. Institutional support for cryptocurrencies continues. It was learned that Steve Cohen, who is a hedge fund manager and owner of Point72 asset management company, who was a dollar billionaire just yesterday, is also preparing to enter the cryptocurrency market. Cohen stated that the cryptocurrency market, which is up to $ 2 trillion today, cannot be ignored.     Source: Uzmancoin.com