JERSEY CITY, N.J., Nov. 18, 2021 /PRNewswire via COMTEX/ — JERSEY CITY, N.J., Nov. 18, 2021 /PRNewswire/ — Digital Prime Technologies (previously known as DLCC), an innovative provider of turnkey, prime brokerage technology solutions for financial institutions, announced today the closing of a strategic investment by an affiliate of Cowen Inc. (NASDAQ:COWN). Cowen will also utilize Digital Prime Technologies software to expand their prime brokerage capabilities in the digital asset sector with a robust model for their institutional client base.
The investment will allow Digital Prime Technologies to aggressively scale their team and business model, while continuing to enhance their platform as an industry-leading solution for traditional Wall Street firms looking to enter the digital asset sector.
James Runnels, Co-Founder & CEO of Digital Prime Technologies, said, “We are very excited to partner with Cowen’s talented team and provide them with a customized digital asset offering. Their sophistication and decision to leverage our technology to expand their digital asset capabilities validates Digital Prime Technologies’ industry-leading platform of choice for institutional finance looking to offer digital asset services. Additionally, their strategic investment will accelerate our aggressive growth plans in 2022 and beyond.”
Dan Charney, Co-President of Cowen and Company, added, “With this strategic partnership and investment, Cowen continues to position itself to better serve our clients with institutional-grade custody and trading solutions for digital assets. We’re excited to work with James and his talented team to accelerate in Digital Prime’s momentum and the growth of digital assets as a mature asset class.”
As part of Cowen’s strategic investment in Digital Prime, Matthew Baldassano, Cowen’s Head of Global Securities Finance, will join Digital Prime’s Board. Other terms of the investment and partnership were not disclosed.
About Digital Prime Technologies
Digital Prime Technologies enables its clients to quickly and easily deploy a full suite of prime brokerage solutions. While the digital assets sector is complicated and evolving rapidly, Digital Prime Technologies’ product suite allows traditional Wall Street firms, as well as other clients, to enter the digital asset space with a robust and fully customizable prime services suite suited to their business and compliance needs. Clients of Digital Prime Technologies, such as Cowen, have the ability to fully customize all aspects of their prime offering for digital assets including custody provider(s), risk management, margin requirements, and liquidity partners. To learn more about Digital Prime Technologies, please visit our website at www.digitalprimetechnologies.com
About Cowen Inc.
Cowen Inc. (“Cowen” or the “Company”) is a diversified financial services firm offering investment banking services, research, sales and trading, prime brokerage, global clearing, commission management services and investment management. Cowen focuses on delivering value-added capabilities to our clients in order to help them outperform. Founded in 1918, the Company is headquartered in New York and has offices worldwide. Learn more at Cowen.com.
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SOURCE Digital Prime Technologies