Morgan Stanley Seeks National Trust Bank Charter for Crypto Custody

Morgan Stanley has applied for a national trust bank charter to custody cryptocurrencies, marking a significant step in its deeper involvement in the crypto industry. According to NS3.AI, this move is part of a broader trend where major financial institutions are pursuing banking licenses to manage digital assets and provide traditional banking services. Since 2021, Morgan Stanley has been expanding its crypto offerings, including Bitcoin funds and plans for Bitcoin and Ethereum ETFs.