Morgan Stanley Seeks OCC Approval for Digital Asset Trust Bank

Morgan Stanley has made significant strides in the digital asset space by submitting an application to the Office of the Comptroller of the Currency (OCC) to establish a dedicated trust bank.

The proposed entity, Morgan Stanley Digital Trust, National Association (MSDTNA), will operate as a nationally chartered trust bank focused on custody services for crypto assets. This move is in line with Morgan Stanley's efforts to build compliant infrastructure for digital asset services and reduce reliance on third-party technology.

The leadership team for the new entity draws from Morgan Stanley's existing banking subsidiaries, with John Ryan serving as chairman and chief executive, Chad Turner as president, and Amanda Kan as chief operating officer. The trust bank will be wholly owned by Morgan Stanley Capital Management.