$8 Trillion Banking Giant Seeks Charter to Custody Digital Assets

Morgan Stanley, one of the world's largest banking institutions, has filed an application to obtain a national trust bank charter. If approved, this would enable the company to expand its services to include digital asset custody, marking a significant step in its growing involvement with cryptocurrency.

The application, submitted under the name 'Morgan Stanley Digital Trust, National Association', is currently pending review by the Office of the Comptroller of the Currency. A national trust bank charter permits financial institutions to perform fiduciary activities, including trust services and asset safekeeping.

This development follows a growing trend in traditional finance embracing digital assets. Earlier this year, Morgan Stanley launched spot Bitcoin, Solana, and staked Ether exchange-traded funds (ETFs) and explored wallet technology across its wealth platform.