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- Cowen’s cryptocurrency unit has begun trading with 16 other cryptocurrencies, including Bitcoin and Solana.
- Cowen Digital intends to give exposure to non-fungible tokens (NFTs), advanced cryptocurrency derivatives, and tokens from the decentralized finance sector in addition to traditional digital assets.
- Cowen’s clients will be able to trade cryptocurrencies without having to worry about custody difficulties thanks to the new division.
- Despite the fact that increasingly famous Wall Street corporations have begun testing the waters with innovative assets, cryptocurrencies are still driven by retail trading, and institutional adoption is still in its infancy.
Jeffrey Solomon stated there is a lot of demand for digital assets during a Friday interview on CNBC’s Closing Bell. For well over a year, we’ve been conducting events and speaking with our clientele. We can see the demand, Solomon explained. Last October, Solomon predicted that institutional clients who had yet to dip their toes into cryptocurrency will become more significantly involved in digital assets in the coming years.
Great Majority Of Trading Occurs In A Small Fraction Of Coins Making Them Similar To Stocks
Despite the fact that increasingly famous Wall Street corporations have begun testing the waters with innovative assets, cryptocurrencies are still driven by retail trading, and institutional adoption is still in its infancy. Solomon stated in a recent interview that the great majority of trading occurs in a small fraction of coins, making them similar to stocks. Bitcoin, according to the CEO of Cowen, is a store of value. Cowen Digital, the investment bank’s cryptocurrency branch, was launched earlier this month.
Cowen’s Cryptocurrency Unit Has Begun Trading With 16 Other Cryptocurrencies
Cowen’s clients will be able to trade cryptocurrencies without having to worry about custody difficulties thanks to the new division. Cold storage is used by the organization to store assets on behalf of its clients. Cowen Digital has collaborated with Standard Custody & Trust, a PolySign company, to provide custody services.
Cowen’s cryptocurrency unit has begun trading with 16 other cryptocurrencies, including Bitcoin and Solana. Cowen Digital intends to give exposure to non-fungible tokens (NFTs), advanced cryptocurrency derivatives, and tokens from the decentralized finance sector in addition to traditional digital assets. In November, Solomon stated that regulation for cryptocurrencies would be beneficial since it would help to limit negative risks.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
