Morgan Stanley Seeks US Bank Charter to Custody Crypto Assets
Morgan Stanley’s OCC application for a national trust bank signals its intent to expand federally regulated digital asset custody, staking, and trading services across the United States.
Summary
Morgan Stanley has applied to the U.S. Office of the Comptroller of the Currency to establish a national trust bank focused on digital asset custody, trading, and staking. The New York-based entity will operate nationwide, building on the bank’s recent crypto-related efforts such as ETF applications and trading partnerships. This move reflects growing engagement of traditional banks in regulated cryptocurrency services.
Terms & Concepts
- Custody: The safekeeping of financial assets, including cryptocurrencies, by a regulated entity on behalf of clients.
- US Bank Charter: A legal authorization allowing an institution to operate as a bank in the United States under federal and state oversight.
- Digital Assets: Cryptographically secured assets such as cryptocurrencies and tokens that exist on blockchain networks.