Morgan Stanley Ventures into Crypto Banking with New Charter Application
Morgan Stanley, a Wall Street titan, has recently submitted an application for a de novo national trust bank charter with the U.S. Office of the Comptroller of the Currency. This marks a significant step in the traditional banking sector’s foray into the realm of digital assets. The application, lodged on February 18, 2026, would empower this $9 trillion banking behemoth to offer direct cryptocurrency custody to its institutional clientele.
The proposed entity, named Morgan Stanley Digital Trust National Association, will be based in Purchase, New York. It aims to provide custody, trading, and staking services for a variety of cryptocurrencies, including Bitcoin, Ethereum, and Solana. This strategic move places Morgan Stanley in direct competition with crypto-native custodians such as BitGo and Anchorage Digital.
The application aligns with Morgan Stanley’s broader digital asset strategy. This includes plans to:
- Launch direct cryptocurrency trading on its E*Trade platform in the first half of 2026
- Recently filed applications for Bitcoin, Ethereum, and Solana spot ETFs
If the application is approved, Morgan Stanley will join the ranks of other institutions like BNY Mellon and Fidelity Digital Assets, which offer regulated crypto custody services. Crypto companies such as Ripple and Crypto.com have also received similar charter approvals.
Source: Bloomberg