Overview
Morgan Stanley has applied for a national trust bank charter to custody digital assets, according to a filing made with the Office of the Comptroller of the Currency on Feb. 18. The prospective trust bank is described in the filing as a vehicle to custody digital tokens for the bank's investment clients and to provide related services.
Scope of proposed business
The filing states the unit would offer trading and staking services for digital assets. The business would operate from a main office in Purchase, New York, and provide services to clients throughout the United States, per the application.
Recent corporate moves tied to digital assets
The charter request is among several steps Morgan Stanley has taken to expand its digital-asset footprint. In January, the firm appointed Amy Oldenburg as head of digital-asset strategy. That same month, Morgan Stanley submitted filings for exchange-traded funds tied to Bitcoin, Ether and Solana. Separately, the bank announced a partnership with Zerohash to permit ETrade clients to trade digital assets beginning this year.
Industry context referenced in the filing
The filing notes that Wall Street firms have been looking for ways to broaden their participation in crypto markets, and that crypto and fintech companies have likewise pursued national trust bank charters. The application situates Morgan Stanley’s initiative within that broader movement, as described in the submitted materials.
What the filing discloses and what remains open
The OCC filing documents Morgan Stanley’s plan to form a national trust bank for custody, trading and staking services, and identifies the intended main office location and nationwide service area. The filing itself does not include further details about timing, operational rollout or regulatory approval status beyond the submission date of Feb. 18.
Summary takeaway
The application marks a formal step by Morgan Stanley toward offering custody and ancillary services for digital assets through a trust bank structure, aligning with the firm’s recent hires, ETF filings and partnership activity related to crypto trading access for clients.