Morgan Stanley Applies for U.S. Trust Bank Charter to Offer Crypto Custody, Trading and Staking
Morgan Stanley filed an application with the U.S. Office of the Comptroller of the Currency on Feb. 28 to establish a national trust bank that would hold digital assets and provide cryptocurrency trading and staking services to investment clients, Bloomberg reports. The proposed trust bank would be headquartered in Purchase, New York, and operate nationwide. Morgan Stanley has expanded its digital asset initiatives, including appointing Amy Oldenburg as Head of Digital Assets Strategy, seeking approval for ETFs tied to Bitcoin, Ethereum and Solana, and partnering with Zerohash to deliver cryptocurrency trading services to E*Trade customers.