The financial giant Morgan Stanley is making significant strides in the cryptocurrency sector by applying for a de novo national trust bank charter. This charter would enable the bank to custody digital assets on behalf of its clients, aligning with its recent initiatives in the crypto space.
Application Details
The application was submitted to the Office of the Comptroller of the Currency (OCC) on February 18, under the name Morgan Stanley Digital Trust, National Association. Recent reports from Bloomberg and Forbes have provided additional insights into the business plan, indicating that the new subsidiary will not only custody digital assets but also facilitate purchases, sales, swaps, and transfers to support client investment activities, including crypto staking.
Understanding the Charter
A national bank trust charter allows financial institutions to engage in fiduciary activities, including trust services and asset safekeeping. The term “de novo” signifies that this is a newly established entity, rather than one acquired through purchase. This marks Morgan Stanley’s first trust charter specifically focused on cryptocurrency, following a total of 14 de novo bank charter applications submitted in 2025.
Context of Crypto Bank Charters
The OCC has been active in approving crypto-related bank charters, having conditionally approved five applications in December for institutions like Fidelity Digital Assets and Paxos. More recently, companies such as Bridge, owned by payments processor Stripe, and Crypto.com have also received conditional approvals for national trust banks.
Strategic Moves by Morgan Stanley
Morgan Stanley’s push into cryptocurrency has accelerated in recent months. In January, the bank appointed Amy Oldenburg, an executive from equity markets, to lead its new crypto unit. Job postings on LinkedIn indicate that the $2 trillion investment bank is actively seeking to expand its crypto team, with roles for a digital assets strategy director and other positions focused on digital assets.
Additionally, Morgan Stanley has filed to launch exchange-traded funds (ETFs) for spot Bitcoin (BTC), Solana (SOL), and staked Ether (ETH), further solidifying its commitment to the digital asset market.
This article was produced by NeonPulse.today using human and AI-assisted editorial processes, based on publicly available information. Content may be edited for clarity and style.
