Morgan Stanley has announced its intention to expand its digital asset offerings, including a native custody and exchange solution for cryptocurrencies. The company revealed these plans at a Strategy World event. Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley, stated that the bank will initially enable clients to trade spot cryptocurrencies on its e-trade platform through partnerships. Last year, the bank also announced plans for a spot Bitcoin ETF to facilitate direct trading for clients. Over the next year, Morgan Stanley aims to develop a fully integrated custody and exchange platform that will legally safeguard clients’ digital assets. The firm acknowledged that some clients, particularly regarding Bitcoin, prefer self-custody of their holdings. Oldenburg noted that the bank’s experiences in emerging markets have advanced its digital asset strategy, observing early adoption of Bitcoin and other cryptocurrencies in 17 of the world’s 20 largest markets. Morgan Stanley is committed to providing comprehensive services to its clients, including lending against crypto holdings and yield-generating products. Although still in early stages, the bank is also interested in decentralized finance (DeFi) and other crypto products. Managing over $8 trillion in assets on its platform, Morgan Stanley currently sees a significant portion of its clients’ cryptocurrency holdings kept off-platform. Bringing these assets onto the platform would enable the bank to offer custody, trading, and potential lending or yield services. While no specific launch date for lending and yield products has been announced, these services are expected to follow the custody and exchange platform rollout. Meanwhile, Bitcoin prices and related assets have been showing positive performance in the market.
Source: bitcoinmagazine
