Cowen CEO Jeffrey Solomon on CNBC’s “Closing Bell” cryptocurrencies and explained that there is a huge demand for digital assets:
“We organize events and meet with our customers for over a year. We see a demand for these assets.”
In his statement last October, Solomon said that institutional customers who have not yet fully entered cryptocurrencies will be “more intense” with digital assets in the coming years.
Cowen’s CEO talks about the company’s new crypto trading product and the high demand for digital assets among investors pic.twitter.com/NJ8GDnhuoU
— CNBC’s Closing Bell (@CNBCClosingBell) April 1, 2022
Crypto assets are still powered by individual investors for now, and the institutional adaptation process is still in its infancy. However, some leading Wall Street companies are testing experiences with the crypto asset class.
“Cryptocurrencies Look Like Stocks”
In his latest statement, Solomon said that the overwhelming majority of trading in the crypto market is concentrated on a small group of coins, and stated that cryptocurrencies are similar to stocks with these features. Cowen CEO also stated that he sees Bitcoin as a means of accumulation of value.
Earlier this month, the investment bank that Solomon is CEO of launched a crypto arm called Cowen Digital.
It was announced that this new arm of the company gives Cowen customers the ability to trade crypto without the hassle of hiding their crypto assets. The company will store crypto assets purchased by its customers in their own cold wallets.
Standard Custody & Trust, a subsidiary of PolySign, will provide crypto-asset custody to Cowen Digital.
Cowen’s cryptocurrency, among them bitcoin and Solana’s It started trading with 16 different crypto assets, including In addition to crypto assets, Cowen Digital also wants to offer services in technologies such as NFT.
In November, Solomon said that regulation of crypto assets would be beneficial for the industry because it would reduce the risks associated with these assets.
*Not investment advice.