Morgan Stanley Applies for Banking License to Expand Digital Asset Custody and Staking Business

Odaily News According to reports, Morgan Stanley has applied to establish a new national trust bank charter to engage in digital asset custody business. The firm also plans to offer staking and trading services for its investment clients, signaling its continued strategic push into the crypto space.

The application was submitted by Morgan Stanley Digital Trust to the U.S. Office of the Comptroller of the Currency (OCC) on February 18. If approved, the charter would enable Morgan Stanley to operate digital asset custody and related services as a banking institution.

This move marks a further shift in Morgan Stanley's stance towards crypto assets. In recent years, the bank has gradually moved from a relatively cautious position to more actively participating in the digital asset market, aligning with the broader trend among traditional financial institutions.

Previously, Morgan Stanley appointed veteran executive Amy Oldenburg to lead its digital asset business strategy, applied to launch spot Bitcoin and Solana ETF products, and plans to introduce its own digital wallet this year.

Morgan Stanley's license application comes as several crypto-native institutions are seeking compliant banking status. Multiple companies have recently received conditional approvals, indicating an accelerated convergence between traditional finance and the crypto industry.