Morgan Stanley Applies for US National Trust Bank Charter to Offer Crypto Custody Services

Morgan Stanley Digital Trust, National Association (MSDTNA), applied for a national trust bank charter in the United States to operate a digital asset business focused on crypto custody, with the entity to be wholly owned by Morgan Stanley Capital Management. The application states MSDTNA plans to safeguard digital assets for clients and conduct related activities including buying, selling, swapping and transferring tokens to support investment strategies. The proposed trust bank would also provide staking services on a fiduciary basis.