Morgan Stanley applies to establish US national trust bank for digital asset business

Morgan Stanley is seeking a competitive advantage in crypto custody by applying to the Office of the Comptroller of the Currency (OCC) to establish Morgan Stanley Digital Trust, National Association (MSDTNA). This entity would operate as a nationally chartered trust bank wholly owned by Morgan Stanley Capital Management, focusing on custody services for digital assets, including buying, selling, swapping, transferring tokens, and facilitating staking services on a fiduciary basis.

The new trust bank is intended to support Morgan Stanley's wealth management division by bringing substantial client crypto holdings, currently held off-platform, in-house under a regulated structure. This move aligns with major financial institutions accelerating compliant infrastructure development for digital assets. The leadership team will be drawn from existing Morgan Stanley subsidiaries, with John Ryan set to be the chairman and CEO.

Furthermore, Morgan Stanley is exploring Bitcoin-backed lending and yield products, planning to allow E*Trade customers to trade spot crypto before launching its own custody platform, as the bank aims to build in-house infrastructure and reduce reliance on third parties.

(Source：Crypto Briefing)