Cowen Leads $53M Series B Round for Custody Partner PolySign

pa hrefhttpswwwcowencom targetblankCowena the American multinational independent investment bank and financial services company with over billion under management will now offer crypto custody solutions to hedge funds through its partnership withnbspa hrefhttpswwwpolysignio targetblankPolySigna an earlystage fintech company looking to drive the global use of digital assets by building critical custody and payment infrastructure solutions for institutionsppAs per the partnership agreement Cowen took a million stake in PolySign and lead the companynbspa hrefhttpswwwglobenewswirecomnewsreleaseenCowenandPolySigntoLaunchStrategicPartnershipGearedTowardProvidingClientsAccesstoCryptocurrencyandDigitalAssetshtml targetblank million Series Banbspthat was announced last Thursday The round also saw participation from Blockchaincom Race Capital Sandia Holdings and PilotRock Investments PolySign will use the fresh capital to accelerate its missiondriven development of institutionalgrade blockchain applicationsppldquoLed by a bestinclass team of cryptocurrency and financial services pioneers PolySign has developed proprietary nextgeneration blockchain technology that we believe will be foundational to the development of secure trusted digital asset infrastructurequot statednbspa hrefhttpswwwbloombergcomprofileperson targetblankJefferey M Solomona CEO of Cowen Headquartered in SanFranciscos Bay Area PolySignio indeed has a talented roster behind it Founded in bynbspa hrefhttpswwwcrunchbasecompersonarthurbritto targetblankArthur Brittoa the CoFounder of Ripple Labs and codesigner of XRP Ledger the leadership group consists ofnbspa hrefhttpswwwlinkedincominjackmcdonald targetblankJack McDonalda previously the CEO of Conifer Financial Servicesnbspa hrefhttpswwwlinkedincomintimkeaneyb targetblankTim Keaneyanbspwho served as VC for BNY Mellonnbspa hrefhttpswwwlinkedincominantoinetteogormanab targetblankAntoinette OGormana previously CCO at Ripple Labs andnbspa hrefhttpswwwcrunchbasecompersondavidschwartzaf targetblankDavid Schwartzanbspwho was previously the CTO and chief cryptographer at RippleppldquoAs digital assets continue to grow and mature as an asset class institutional investors need to trust custody and trading solutions on par with their requirements for investing in traditional securities Our partnership with PolySign is another example of how we at Cowen position ourselves to better serve our clients by identifying disruptive trends that we believe will impact investment markets for years to comequot says Solomon The news brings yet another institutional gateway and security option to service more investors looking to enter the cryptocurrency spacep