Cybersecurity
Cowen to Offer Crypto Custody to Hedge Funds and Asset Managers
- It promises ‘institutional-grade’ custody in new partnership
- Wall Street is warming up to holding clients’ cryptocurrency
Jeffrey Solomon
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
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Century-old investment bank Cowen Inc. says it will hold cryptocurrencies for hedge funds and asset managers, a service that many Wall Street stalwarts were long reluctant to offer even as they rushed to cash in on their clients’ interest in the hot asset class.