Morgan Stanley
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.
The Morgan Stanley Bitcoin Trust completed its first month of trading on May 8 without any net outflows, drawing $193 million in inflows since its April 8 launch.
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Morgan Stanley has started offering clients the ability to trade cryptocurrencies directly inside E*Trade brokerage accounts, executing a partnership announced last September.