Morgan Stanley Seeks Federal Charter for Digital Asset Custody Unit

Morgan Stanley has taken another step in formalizing its digital asset strategy by applying for a national trust bank charter from the Office of the Comptroller of the Currency (OCC). The move marks the firm's latest effort to bring its crypto custody and related services under federal supervision.

The proposed entity, Morgan Stanley Digital Trust National Association, would operate as a de novo national trust bank focused on digital asset custody and fiduciary services. Unlike a full-service commercial bank, a national trust bank does not take deposits or issue traditional loans but can provide custody and trust services under federal oversight.