-
Proposed Morgan Stanley Digital Trust would operate as a de novo national trust bank without FDIC deposits.
-
The trust plans crypto custody, trading, swaps, transfers, and staking for wealth and institutional clients.
-
Filing follows OCC crypto trust approvals for BitGo, Fidelity Digital Assets, Paxos, and Ripple.
Morgan Stanley has applied for a national trust bank charter to custody Bitcoin and other digital assets. The filing was submitted on Feb. 18 to the Office of the Comptroller of the Currency. The proposed entity would operate nationwide from Purchase, New York, supporting crypto custody, trading, and staking.
Trust Charter Filing Details and Structure
The application lists the entity as Morgan Stanley Digital Trust, National Association. Notably, it would be a de novo trust bank, meaning a newly formed institution. The filing seeks full trust powers under federal supervision.
According to the application, the trust bank would not accept FDIC-insured deposits. Instead, it would focus on fiduciary administration and asset safekeeping. The entity would sit under Morgan Stanley Capital Management as an indirect wholly owned subsidiary.
The OCC confirmed receipt of the application on Feb. 18. It also opened a public comment period that runs through March 20. During its first three years, the trust would custody select digital assets and execute related transactions.
Services Planned for Wealth Management Clients
Morgan Stanley said the trust would serve its wealth management clients. These include individuals, businesses, and institutional investors. The services would support client investment activity on a fiduciary basis.
Specifically, the trust would handle crypto purchases, sales, swaps, transfers, and staking. These activities would support broader investment strategies rather than retail trading. The filing notes that national trust banks may conduct non-fiduciary custody activities without taking deposits.
According to Bloomberg and Forbes reports, this marks Morgan Stanley’s first crypto-focused trust charter. The filing follows the firm’s recent expansion across digital asset products. That expansion sets context for the new trust structure.
Broader Crypto Push and Industry Context
The trust application comes amid increased interest in crypto bank charters. In December, the OCC conditionally approved several crypto-related trust banks. These included BitGo, Fidelity Digital Assets, Paxos, and Ripple.
Morgan Stanley has also pursued crypto ETFs and tokenized asset offerings. It plans to launch crypto trading for E-Trade clients this year. Bitcoin, Ethereum, and Solana would be included initially.
According to Eric Balchunas, the filing reflects a deeper commitment to crypto access. He noted Morgan Stanley’s large advisor network and client base. The OCC currently supervises about 60 national trust banks in the United States.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitwise donates $100,000 to Ethereum open-source developers
Bitwise Asset Management announces a $100,000 donation to Ethereum open-source developers to support Protocol Guild and PBS Foundation. This is part of Bitwise's annual support for open-source developers, which previously included a $233,000 donation to Bitcoin developers.
GateNews15m ago
XRP Today's News: Musk X Money Beta Released, Sparks On-Chain Integration Speculation
Elon Musk's X company has launched a beta version of the X Money payment system, allowing users to transfer and manage funds, sparking widespread discussion about XRP integration. Although there are no official plans for cryptocurrency integration at the moment, the market is generally optimistic. Analysts believe that XRP has design advantages for payments, especially with improved regulatory environments, making it more promising. However, the practicality of stablecoins is also under scrutiny. XRP is currently testing the $1.50 technical resistance level. If successfully broken through, it could trigger further gains.
MarketWhisper26m ago
Tether is expanding its global payment footprint by investing in Axiym to establish settlement corridors in 140 countries.
Tether makes a strategic investment in fintech company Axiym with the goal of integrating USDT into Axiym's regulated payment ecosystem to improve cross-border payment processes. Axiym has a decentralized settlement infrastructure in 140 countries, which can enhance the efficiency of fund flows and optimize the payment experience. This investment marks Tether's transition from a single stablecoin issuer to a participant in broader payment infrastructure, promoting global financial inclusion.
MarketWhisper1h ago
Solana's Largest DEX Aggregator » Jupiter Launches On-Chain Visa Card: Zero Fees for USDC Top-Ups, Aiming to Transform into a Decentralized New Bank
Solana Ecosystem Protocol Jupiter Launches Virtual Visa Card Jupiter Card, Allowing Users to Top Up with USDC Fee-Free and Exchange 1:1 USD. The card can be used at Visa-accepting merchants worldwide and offers two card level options. Jupiter has partnered with Noah with the goal of transforming into a decentralized new bank, providing more financial services and attracting a large user base. Its success remains to be seen before market validation.
動區BlockTempo1h ago
Ripple's "dark road" connects to Wall Street's core—Is XRP's spring coming?
Ripple, through the acquisition of Hidden Road and gaining eligibility to participate in DTCC, has become part of the core clearing system of the U.S. financial markets. This marks that it is no longer an outsider to traditional finance and is integrating crypto assets with financial infrastructure. Despite challenges such as regulation and trust, Ripple's strategic positioning suggests that XRP could become a key asset for institutional-level settlements in the future.
PANews1h ago
Western Union Partners with Crossmint to Bring USDPT to Solana
The article discusses Western Union's collaboration with Crossmint to introduce USDPT on the Solana blockchain, highlighting developments in cryptocurrency and payment innovations.
CryptoBreaking1h ago
