- Morgan Stanley filed for a de novo trust bank charter to expand crypto custody trading and staking services.
- The OCC received the application on Feb 18 as institutional interest in regulated crypto access grows.
- The trust charter would allow Morgan Stanley to hold digital assets under federal banking oversight.
Morgan Stanley has applied for a US de novo national trust bank charter to expand its crypto services. The filing was submitted under the name Morgan Stanley Digital Trust, National Association. The Office of the Comptroller of the Currency confirmed it received the application on Feb. 18. The public record lists the filing but does not outline full operating details.
The proposed trust bank would allow Morgan Stanley to custody digital assets for clients. It would also support crypto trading and staking within investment accounts. Reports from Bloomberg and Forbes state the unit plans to handle purchases, sales, swaps, and transfers. These services would support client portfolios and digital asset strategies.
A national trust bank charter allows fiduciary activities such as custody and asset safekeeping. The term de novo means the bank would form a new entity rather than buy an existing one. This is Morgan Stanley’s first trust charter focused directly on crypto operations.
Filing Expands Morgan Stanley’s Crypto Footprint
The application reflects a clear shift in the bank’s digital asset approach. Over the past months, Morgan Stanley has moved deeper into crypto markets. In January, it filed to list spot Bitcoin and Solana exchange-traded funds. It later filed for a staked Ether ETF.
The bank also plans to launch its own digital wallet later this year. These moves show a steady build-out of crypto services. The trust charter would place custody and staking under a regulated banking structure. That structure may offer clients added compliance clarity.
Morgan Stanley manages about $2 trillion in assets. As a result, its expansion into crypto custody carries weight across institutional markets. A trust charter would allow it to hold digital assets directly for clients under federal oversight.
OCC Activity Reflects Growing Institutional Demand
The filing comes as the OCC reviews several crypto-related charter applications. In December, the agency granted conditional approvals to Ripple, BitGo, Fidelity Digital Assets, Paxos, and First National Digital Currency Bank. More recently, Bridge, owned by Stripe, secured conditional approval. Crypto.com also received approval shortly after.
Payoneer has filed for a national trust bank charter as well. That application could allow it to issue a stablecoin and expand digital asset services. There are roughly 60 national trust banks supervised by the OCC. Morgan Stanley’s filing is one of 14 de novo applications submitted in 2025.
Internal Changes Support Digital Asset Push
The trust application aligns with recent leadership changes. In January, Morgan Stanley appointed Amy Oldenburg to lead its digital asset strategy. The bank created the role to centralize oversight of crypto initiatives.
Job listings show the firm is hiring for several digital asset positions. Open roles include strategy director and product lead. These recruits indicate that the bank is developing a long term infrastructure.
The charter filing, ETF applications and the staffing plans together indicate a coordinated growth. Morgan Stanley seems to be placing crypto services in its investment core platform.
