Morgan Stanley Applies for US Trust Bank Charter to Venture into Crypto Custody and Pledge Business

BlockBeats News, February 28, according to Bloomberg, Morgan Stanley has applied to the Office of the Comptroller of the Currency (OCC) to establish a new national trust bank for custody of digital assets, and to provide cryptocurrency trading and lending services to investment clients. The new entity will be headquartered in Purchase, New York, with nationwide operations.

Morgan Stanley has been strengthening its digital asset presence in recent months, including appointing Amy Oldenburg as Head of Digital Asset Strategy, applying for Bitcoin, Ethereum, and Solana-related ETFs, and partnering with Zerohash to offer cryptocurrency trading to E*Trade clients.