Morgan Stanley is deepening its commitment to digital assets by applying for a de novo national trust bank charter with the Office of the Comptroller of the Currency (OCC). The proposed entity, "Morgan Stanley Digital Trust, National Association," would enable the financial giant to custody cryptocurrencies and offer related fiduciary services.
This move allows the bank to hold digital assets for clients and facilitate purchases, sales, and transfers, potentially including crypto staking for proof-of-stake assets. The application marks Morgan Stanley's first trust charter specifically targeting cryptocurrency services, aligning with its recent filings for spot Bitcoin, Solana, and Ether ETFs. The firm is joining a growing list of financial institutions seeking federal oversight for digital asset operations, aiming to consolidate custody, trading, and investment services under one regulated structure.