Crypto Custody
Morgan Stanley applies for national bank charter for crypto custody
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Morgan Stanley has filed for a national trust bank charter with the Office of the Comptroller of the Currency to provide cryptocurrency custody services to institutional clients. The application, submitted on February 18, aims to position the Wall Street giant as a direct competitor to crypto-native custodians. This move reflects a broader trend of traditional banks expanding into digital assets amid a more favorable regulatory environment.
Citigroup plans to launch institutional bitcoin custody later this year, integrating it into traditional banking frameworks. Morgan Stanley has applied for a national trust charter to support crypto trading for its clients and is advancing spot trading on E*TRADE. These moves reflect growing institutional demand for digital assets within regulated systems.
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The U.S. Securities and Exchange Commission has published an investor bulletin to educate retail investors on crypto asset custody. The guide outlines best practices for storing digital assets and highlights risks associated with hacks, bankruptcies, and shutdowns. It emphasizes the importance of scrutinizing custodians and securing personal wallets.