Custody services aren’t the most compelling corner of the crypto ecosystem, but 21st-century solutions for storing and safekeeping digital assets are critical if cryptocurrencies are to achieve widespread adoption.
For that reason, Cowen Inc.’s recent announcement that the 103-year old United States investment bank wants to hold crypto on behalf of asset managers and hedge funds is noteworthy, especially when coupled with similar statements from traditional bank giants such as Bank of New York Mellon (NYSE:BK) and Deutsche Bank (DE:DBKGn) earlier this year.
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