Digital Prime Technologies (previously known as DLCC), an innovative provider of turnkey, prime brokerage technology solutions for financial institutions, announced the closing of a strategic investment by an affiliate of Cowen Inc. 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.
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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.”
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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
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