Morgan Stanley debuts ultra-cheap crypto trading to challenge Coinbase and Robinhood

Morgan Stanley is launching ultra-low-fee cryptocurrency trading on its E*Trade platform, aiming to compete with established players like Coinbase and Robinhood. The bank is charging clients 50 basis points (0.5%) for crypto transactions, significantly lower than Robinhood's 95 basis points and Coinbase's 60 basis points. Charles Schwab, also entering the crypto space, charges 75 basis points. The service is currently in a pilot phase, with all 8.6 million E*Trade account holders expected to gain access by year-end, initially supporting Bitcoin, Ether, and Solana. This move is part of Morgan Stanley's broader strategy to integrate crypto capabilities across its trading, wealth management, and institutional services, reflecting a convergence of traditional and decentralized finance. The firm sees this as a significant step beyond just offering cheaper trading, aiming to disintermediate existing crypto exchanges. The expansion is also influenced by a more crypto-friendly US policy direction.

(Source：Crypto Briefing)