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Wall Street Bank Cowen To Offer Spot Bitcoin Trading

  • Boutique funding financial institution Cowen Inc. will reportedly provide its institutional shoppers spot bitcoin buying and selling by means of a brand new enterprise unit.
  • “This will be a meaningful division,” its co-president mentioned.
  • Standard Custody & Trust Co. will act because the financial institution’s cryptocurrency custodian.

Wall Street funding financial institution Cowen Inc. has debuted a brand new digital asset unit to provide spot bitcoin and cryptocurrency buying and selling to institutional buyers, Bloomberg reported Wednesday.

The agency leveraged its small footprint to front-run its larger rivals because the finance hub seeks to embrace the burgeoning asset class’ spot markets. Goldman Sachs executed its first over-the-counter (OTC) bitcoin choices commerce earlier this week, attempting to plug into derivatives-based choices as uncertainties and complexities round spot merchandise maintain again developments.

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