Morgan Stanley Seeks Digital Asset Banking Charter
Morgan Stanley Seeks Digital Asset Banking Charter
A subsidiary of Morgan Stanley has applied to the Office of the Comptroller of the Currency (OCC) for a national trust banking charter, specifically focusing on digital assets. This move indicates a continued push by traditional financial institutions into the evolving digital asset landscape, potentially paving the way for more mainstream financial services to interact with cryptocurrencies and blockchain technology under a regulated framework.
A Morgan Stanley subsidiary applied earlier this month to the OCC for a national trust banking charter. This application signifies a notable step by one of the world's leading financial services firms to formally engage with the digital asset sector through a regulated banking structure. Such charters allow institutions to offer a range of services related to digital assets, including custody, and potentially other financial products.