- Morgan Stanley files national trust bank charter for crypto custody
- Bank plans staking and trading under federal oversight
- Move signals stronger Wall Street push into digital assets
Institutional crypto adoption gained fresh momentum after Morgan Stanley applied for a national trust bank charter in the United States. The filing signals a deeper commitment to digital assets. It also reflects a broader recalibration within traditional finance. According to a Bloomberg report on Friday, the Wall Street bank submitted a de novo application. The filing seeks approval from the Office of the Comptroller of the Currency. Public records show that Morgan Stanley Digital Trust filed the application on Feb. 18. However, the listing provides limited operational details.
Still, the intent appears clear. The charter would allow the bank to custody digital assets directly for clients. In addition, it plans to offer staking and trading services within the same framework. That structure could give investment clients broader exposure under regulated oversight. Moreover, the application highlights a notable shift in the bank’s crypto posture. In recent months, executives have taken a more assertive stance on digital assets. This change mirrors the evolving approach among major financial institutions.
Earlier this year, Morgan Stanley filed to list spot Bitcoin and Solana exchange traded funds. Those filings demonstrated growing comfort with crypto linked investment products. Additionally, the bank confirmed plans to launch a proprietary digital wallet later this year. That initiative would extend its digital asset infrastructure further.
Leadership changes also underscore this strategy. Last month, the firm appointed veteran executive Amy Oldenburg to lead digital asset strategy. The newly created role signals internal alignment around expansion.
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Regulatory Landscape Shapes Institutional Crypto Expansion
Morgan Stanley’s move comes amid increasing regulatory clarity for digital asset custody. Recently, crypto native firms secured conditional approvals from federal regulators. Those developments indicate a structured pathway for compliant operations.
Notably, the Office of the Comptroller of the Currency granted conditional approvals in December. Recipients included Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos. More recently, Crypto.com and Bridge, a Stripe subsidiary, also received conditional approval.
Consequently, traditional banks now face competitive pressure from crypto focused firms. By pursuing a national trust bank charter, Morgan Stanley positions itself within that regulated cohort. The structure may also strengthen client confidence in custody safeguards.
Significantly, institutional demand for digital asset services continues to expand. Asset managers increasingly seek compliant access points for custody and staking. Therefore, securing a charter could offer Morgan Stanley operational flexibility.
Additionally, federal oversight may reduce counterparty risk concerns among conservative investors. As regulatory pathways become clearer, more banks may follow similar strategies. Morgan Stanley’s application therefore marks another step in the integration of digital assets into mainstream finance.
Morgan Stanley’s national trust bank application underscores a decisive institutional pivot toward regulated digital asset services. If approved, the charter would enable custody, staking, and trading under federal supervision, reinforcing the bank’s expanding crypto strategy.
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