Morgan Stanley filed for a de novo national trust bank charter to custody crypto assets, an application identified as the Morgan Stanley crypto custody bank charter and lodged with federal authorities. The filing identifies the entity as Morgan Stanley Digital Trust and was submitted to the Office of the Comptroller of the Currency (OCC) for consideration. Bloomberg first reported the news.
Since 2021, Morgan Stanley has actively engaged in the crypto space, initially by offering its wealthy clients exposure to Bitcoin through funds managed by Galaxy Digital. This marked the firm’s early foray into digital assets as it sought to cater to the growing demand for cryptocurrency investments among high-net-worth individuals.
Additionally, Morgan Stanley has spot Bitcoin and Ethereum ETFs in registration, reflecting its commitment to expand crypto investment options for its clientele. The financial institution’s advisory arm is substantial, with 16,000 advisors managing assets worth $7 trillion on behalf of 18 million clients.
In 2025, Morgan Stanley collaborated with Zerohash to enhance its online brokerage platform, enabling clients to trade prominent cryptocurrencies, including Bitcoin, Ethereum, and Solana. This partnership represents a significant step in integrating crypto trading capabilities into Morgan Stanley’s offerings, aligning with its broader strategy to incorporate digital currencies into traditional financial services.
Coinbase and World Liberty Financial have also applied to the Office of the Comptroller of the Currency for a banking licence. Regulators have given conditional approval to Crypto.com, Ripple, Circle, BitGo and others for crypto-related banking activities. The reporting references both formal licence applications and conditional regulatory approvals in connection with crypto firms and other financial companies seeking permissions to undertake banking activities related to digital assets, including custody and the movement of customer funds.
A banking licence would permit crypto firms like exchanges to custody assets and move money for customers in the same way a traditional bank would. The developments named in the reporting encompass application filings and conditional approvals that relate specifically to crypto-related banking activities and permissions. Specifically named entities in these reporting items include Coinbase, World Liberty Financial, Crypto.com, Ripple, Circle and BitGo.
CEO Ted Pick said last year the bank was working with regulators to offer crypto safely. The remark appears in the reporting and is dated to last year. The report is attributed to Mathew Di Salvo, a DL News correspondent.
The filing was made by an entity identified as Morgan Stanley Digital Trust and submitted to the Office of the Comptroller of the Currency. Morgan Stanley has other crypto-related initiatives, including spot Bitcoin and Ethereum ETFs in registration and a 2025 partnership with Zerohash to enable trading of Bitcoin, Ethereum and Solana on its online brokerage platform. The filing represents a significant move in crypto custody services by a major financial institution, reflecting ongoing regulatory engagement and expansion in crypto asset management.
