Morgan Stanley Expands Crypto Presence with Trust Bank Application

Morgan Stanley, one of the world's largest banks, has taken a significant step into the cryptocurrency market by applying to become a national trust bank. This move would allow it to provide direct custody services for institutional clients, marking a major shift in the competitive landscape.

The application, filed with the Office of the Comptroller of the Currency (OCC), is part of Morgan Stanley's broader strategy to expand its presence in the digital asset space. The bank plans to offer a range of services, including custody, trading, and staking, under one roof.

This dual approach is not unique to Morgan Stanley, as other traditional financial institutions are also exploring the crypto market. Industry analysts attribute this renewed momentum to the Trump administration's efforts to provide clearer federal guidelines for traditional financial institutions entering the digital asset space.