Wall Street's Crypto Expansion a Long-Term Effort Says Morgan Stanley

Morgan Stanley's Amy Oldenburg argues that Wall Street's push into crypto has been a gradual process, driven by years of infrastructure development rather than a sudden shift in focus. The bank is now preparing to support tokenized equities trading on its alternative trading system, which will require the reworking of core systems and legacy infrastructure.

Oldenburg notes that there is often a disconnect between crypto startups and large institutions, with founders underestimating the complexity of bank systems. However, areas like stablecoins are gaining traction as a way to move money faster and at lower cost than traditional rails.