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One of the leading investment banks in the United States, Morgan Stanley, has accelerated its growth strategy in the digital asset sector by applying to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter in order to provide crypto custody and financial services. This move is seen as a significant step toward more firmly integrating traditional finance with the digital asset ecosystem. Morgan Stanley’s application stands out as part of its plan to securely custody, transfer, and offer various investment services for crypto assets on behalf of its clients. The step also aligns with the bank’s Bitcoin, Ether, and Solana ETF initiatives, highlighting its intention to strengthen its institutional presence in the crypto market and gain a competitive advantage in digital finance.
What Does the Digital Trust Application Cover?
According to publicly available OCC documents, Morgan Stanley filed a de novo national trust bank charter application on February 18 under the name “Morgan Stanley Digital Trust, National Association.” The term “de novo” indicates the creation of an entirely new financial entity rather than the acquisition of an existing institution. This signals that the bank aims to position its crypto operations under a distinct and specialized structure. According to details shared by Bloomberg and Forbes, the planned subsidiary will provide digital asset custody services on behalf of clients, as well as facilitate buying, selling, trading, and transfer transactions. It is also reported that the company intends to offer staking services for select digital assets. Through this model, Morgan Stanley aims not only to enable crypto investment but also to provide institutional-grade custody and operational infrastructure. Investors would therefore be able to conduct digital asset transactions directly under the bank’s umbrella within a regulated framework.
A national trust bank charter grants financial institutions the authority to provide asset protection, custody, and fiduciary services. In the U.S., approximately 60 national trust banks are supervised by the OCC, and 14 new bank charter applications were submitted throughout 2025. Demand for crypto-focused banking licenses is also rising rapidly. In December, the OCC conditionally approved applications from major crypto companies such as Ripple, BitGo, Fidelity Digital Assets, and Paxos. Additionally, Stripe-owned stablecoin platform Bridge and financial services firm Payoneer are among the companies that have recently applied for similar licenses.
Morgan Stanley Accelerates Its Crypto Strategy
In recent months, Morgan Stanley has significantly expanded its digital asset strategy. In January, the bank appointed experienced executive Amy Oldenburg to lead its new crypto division. According to LinkedIn job postings, the bank plans to grow its crypto team by hiring for roles such as Digital Asset Strategy Director, Product Lead, and Strategist.
At the same time, Morgan Stanley has filed applications for spot Bitcoin, Ether, and Solana ETFs, while also working on staked Ether ETF products. These initiatives reflect the bank’s goal of expanding institutional investors’ access to crypto markets. Under its plan, the new digital trust bank would enable the “custody, transfer, and staking of certain digital assets to support client investment activities.”
Wall Street Enters Crypto Banking
Morgan Stanley’s application for a national trust bank charter from the OCC is considered a significant development signaling that traditional financial giants are rapidly entering the crypto banking space. The bank’s custody, staking, and ETF plans could make access to digital assets even easier for institutional investors. As competition for crypto banking licenses intensifies in the United States, Morgan Stanley’s move may accelerate Wall Street’s deeper integration into the digital asset ecosystem.
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