StoneX Expands Crypto Trading Team by Hiring Ex-TD Cowen Employees (NASDAQ:SNEX)
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StoneX Group (NASDAQ:SNEX) has augmented its operations in the digital currency space by onboarding five members from the former Cowen Digital team within the digital assets department of Toronto-Dominion Bank’s (TD) Cowen Digital, which ceased its services the previous year, as reported on Tuesday.
This move is indicative of a resurgence of interest from Wall Street financial institutions in the crypto economy, which is worth approximately $1.8 trillion. Various premier financial organizations such as BlackRock (BLK), Invesco (IVZ), Wisdomtree (WT), and Fidelity have recently received regulatory blessings for their bitcoin-based spot exchange-traded funds (ETFs).
Eric Rose, who previously helmed Cowen Digital’s operations as the managing director, now assumes the role of head of digital asset execution at the New York brokerage firm since October, as per a Bloomberg publication. Accompanying him are his former colleagues Keith Coyne, David Korger, Kyrill Firshein, and Nolan Aibel, who have also transitioned to StoneX Digital.
The digital assets division of StoneX currently facilitates bitcoin trading (BTC-USD) with the use of Etana Custody for secure storage, according to a report. There are further plans to offer spot cryptocurrency trading and cryptocurrency lending services in the future.
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