Odaily Planet Daily reports that Morgan Stanley has applied for a new national trust bank charter to offer digital asset custody services, with plans to provide staking and trading services to investment clients, signaling its continued strategic expansion into the crypto space.
The related application was submitted to the U.S. Office of the Comptroller of the Currency (OCC) by Morgan Stanley Digital Trust on February 18. If approved, the license would enable Morgan Stanley to offer digital asset custody and related services as a banking institution.
This move marks a further shift in Morgan Stanley’s stance toward cryptocurrency assets. In recent years, the bank has gradually moved from a relatively cautious position to a more active engagement in the digital asset market, aligning with the broader trend among traditional financial institutions.
Previously, Morgan Stanley appointed senior executive Amy Oldenburg to lead digital assets 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 at a time when multiple 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.