-
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
Rakuten Pay Integrates XRP for Payments and Loyalty Use
Rakuten will integrate XRP payments for 44 million users, linking the token to over 5 million merchants in Japan. Users can convert loyalty points to XRP, facilitating everyday spending and enhancing real-world adoption of crypto.
CryptoFrontNews8m ago
X's Cashtags Feature Hits $1 Billion in Trading Volume Within Two Days of Launch
X's new Cashtags feature, launched on April 15, generated $1 billion in trading volume in two days, allowing users to access trading platforms and view price charts. Currently available only on iPhone in the U.S. and Canada, it complements the forthcoming X Money payment system, part of Elon Musk's vision for an "everything app."
GateNews2h ago
Topnod Self-Custody Wallet Becomes Official Partner of Layer1 Blockchain Pharos
Topnod has partnered with Layer1 blockchain Pharos, providing a user-friendly self-custody wallet that simplifies access to real-world assets. It will support Pharos's airdrop activities and facilitate the distribution of RWA assets on the Pharos chain.
GateNews3h ago
Payward Acquires CFTC-Licensed Derivatives Platform Bitnomial for Up to $550M
Payward, the parent company of a major centralized exchange, is set to acquire Bitnomial, the first fully licensed U.S. digital asset derivatives firm, for up to $550 million, valuing Payward at $20 billion. This marks a key advancement in regulated crypto trading.
GateNews5h ago
XRP Evolves From Bridge Asset to DeFi Collateral, Says Evernorth CEO
Evernorth CEO Asheesh Birla is shifting XRP's role from a settlement tool to a productive asset in decentralized finance, focusing on capital efficiency. The company aims to activate dormant capital through initiatives like native XRP lending, positioning XRP as a key player in credit markets.
CryptoFrontier8h ago
Singapore Gulf Bank Launches Zero-Fee Stablecoin Service on Solana for Institutional Clients
Singapore Gulf Bank has introduced a stablecoin conversion service for corporate and high-net-worth clients, enabling zero-fee fiat-to-stablecoin transactions on the Solana network. It supports multiple blockchains and enhances liquidity management.
GateNews8h ago
