Morgan Stanley applies for a banking license to enhance its digital asset custody and staking business

According to reports, Morgan Stanley has applied for a new national trust bank license to conduct digital asset custody business and plans to offer staking and trading services to investment clients, demonstrating its continued strategic commitment to the cryptocurrency sector.

The related application was submitted by Morgan Stanley Digital Trust to the Office of the Comptroller of the Currency (OCC). If approved, the license will enable Morgan Stanley to conduct digital asset custody and related services as a banking institution. This move marks a further shift in Morgan Stanley's attitude towards crypto assets. In recent years, the bank has gradually shifted from a relatively cautious stance to a more active participation in the digital asset market, aligning with the overall trend among traditional financial institutions.

Previously, Morgan Stanley appointed senior executive Amy Oldenburg to oversee digital asset business strategy and applied to launch spot Bitcoin and Solana ETF products, while also planning to introduce its own digital wallet this year. Morgan Stanley's license application comes at a time when several crypto-native institutions are seeking compliant banking identities. Recently, multiple companies have received conditional approvals, indicating that the integration of traditional finance and the crypto industry is accelerating.