Morgan Stanley’s ambitions in cryptocurrency are entering full throttle. According to Bloomberg, this Wall Street giant has applied to establish a new “National Trust Bank” aimed at providing digital asset custody, trading, and even attractive staking services for its investment clients.
According to the U.S. Office of the Comptroller of the Currency (OCC) website, Morgan Stanley submitted a license application on February 18 under the name “Morgan Stanley Digital Trust.”
While current publicly available information has not revealed further business details, this move undoubtedly signals to the market: Morgan Stanley is shifting from cautious observation to fully embracing digital assets and attempting to build its own “cryptocurrency moat.”
Last month, Morgan Stanley promoted senior executive Amy Oldenburg to serve as the newly established “Digital Asset Strategy Head,” overseeing the firm’s global cryptocurrency initiatives. Earlier this year, the bank took the lead among its peers by applying for spot ETFs for Bitcoin, Solana (SOL), and Ethereum, and also announced plans to launch its own digital wallet within the year.
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