The first Wall Street investment bank to take the plunge! Cowen launches spot crypto trading ahead of the competition

Investment bank Cowen Inc (NASDAQ:COWN) (COWN.US) has launched a digital assets unit to provide institutional clients with spot cryptocurrency trading services, putting it well ahead of its Wall Street peers in the crypto space.

The Cowen digital assets unit will allow clients to trade 16 cryptocurrencies, including bitcoin, ethereum and Solana, according to a statement. the business will also offer asset custody services through Standard Custody & Trust Co.

As the U.S. government seeks to tighten regulation of the crypto industry, Wall Street has already ventured into the space, said Cowen co-president Dan Charney, adding that as a smaller bank, Cowe is able to move quickly in emerging areas such as digital assets. The company began offering crypto custody services last year.