Morgan Stanley has filed for a U.S. bank charter to offer custody services for cryptocurrency assets, marking a significant move in the financial sector. This decision aligns with a regulatory trend where U.S. banking regulators are easing restrictions on traditional banks to encourage institutional adoption of cryptocurrency. As major investment banks increasingly seek to develop crypto infrastructure in response to their clients’ demand for compliant digital asset services, Morgan Stanley’s filing underscores this shift in Wall Street’s approach to cryptocurrencies.
Morgan Stanley files for US bank charter to custody crypto assets
