StoneX Group (NASDAQ:SNEX) has made significant enhancements to its cryptocurrency-trading team by recruiting five members from Toronto-Dominion Bank’s (TD) Cowen Digital, the digital-asset unit of TD Cowen that ceased operations last year, as per a Tuesday media report.
The move serves as a clear indication of revitalized interest among major Wall Street banks in participating in the $1.8 trillion cryptocurrency market.
The recent hiring saw Eric Rose, a former managing director at Cowen Digital, assume the role of chief of digital-asset execution at the New York-based broker-dealer in October. Joining him are Keith Coyne, David Korger, Kyrill Firshein, and Nolan Aibel, all of whom were part of the Cowen Digital team and have now transitioned to StoneX Digital.
The unit is presently offering bitcoin (BTC-USD) trading utilizing Etana Custody as a custodian and has plans to introduce spot crypto trading and crypto-lending services in the future.