Morgan Stanley, which has been building out its crypto-related offerings, applied for a de novo national trust bank charter to allow the Wall Street bank to custody digital assets.
The company said it will also use the entity to conduct trading and facilitate staking for its investment clients, according to a Feb. 18 application submitted to the Office of the Comptroller of the Currency. While the business will have a main office in Purchase, New York, its services will be offered throughout the US, according to the filing.