Morgan Stanley Targets Direct Crypto Custody With Trust Bank Application

Morgan Stanley has applied for a national trust bank charter to provide direct cryptocurrency custody for its institutional clients. This represents a major escalation in Wall Street’s push into the digital asset sector. The $9 trillion banking giant filed the de novo application with the Office of the Comptroller of the Currency on February 18. Morgan Stanley’s New OCC Bid to Rival BitGo and Anchorage If approved, the charter would transform Morgan Stanley into a direct competitor to crypto-native custodians such as BitGo and Anchorage Digital, while testing the limits of traditional banking regulations source: https://beincrypto.com/morgan-stanley-national-bank-charter-to-hold-crypto/