According to Odaily Odaily, Morgan Stanley has applied for a new national trust bank license to conduct digital asset custody business and plans to provide staking and trading services for investment clients, demonstrating its strategic direction of continuously increasing investment in the crypto space.
The application was submitted by Morgan Stanley Digital Trust to the Office of the Comptroller of the Currency (OCC) on February 18. If approved, the license would allow Morgan Stanley to conduct digital asset custody and related services as a banking institution.
This move marks a further shift in Morgan Stanley's stance on the crypto asset space. In recent years, the bank has gradually moved from a relatively cautious position to a more active participation in the digital asset market, consistent with the overall trend of traditional financial institutions.
Previously, Morgan Stanley had appointed senior executive Amy Oldenburg to lead its digital asset business strategy and applied to launch spot Bitcoin and Solana ETF products, while also planning to launch its own digital wallet this year.
Morgan Stanley's license application comes at a time when several crypto-native institutions are seeking compliant banking status. Several companies have recently received conditional approvals, indicating that the integration of traditional finance and the crypto industry is accelerating.
