Paul Johnson Morgan Stanley applies for OCC bank charter to custody crypto, marking a major step in its digital asset expansion. The move strengthens Wall Street’s push into Bitcoin, Ether, and Solana custody and trust services.
Morgan Stanley applies for OCC bank charter to custody crypto
Morgan Stanley applies for OCC bank charter to custody crypto in a strategic step that signals how deeply Wall Street is now embracing the digital asset economy. The $2 trillion financial powerhouse has officially filed for a de novo national trust bank charter with the Office of the Comptroller of the Currency, seeking regulatory approval to hold and manage digital assets for clients across its global network.
The application, submitted on February 18 under the name Morgan Stanley Digital Trust, National Association, represents the first time the Wall Street firm has moved to create a standalone entity focused exclusively on crypto custody and trust services.
This new trust unit will be designed to manage, store, and safeguard digital assets including Bitcoin, Ether, and Solana, as well as support functions such as staking and crypto transactions. The development aligns with Morgan Stanley’s steady acceleration in the digital asset space following a wave of filings for Bitcoin, Ether, and Solana exchange traded funds earlier this year.
Wall Street deepens its digital footprint
Morgan Stanley applies for OCC bank charter to custody crypto at a moment when other top institutions are also pursuing national trust status. The OCC’s records show a growing list of applicants that now includes Ripple, Paxos, BitGo, and Fidelity Digital Assets, all of which received conditional approvals for crypto trust bank operations in late 2025.
The latest entrant, Stripe’s Bridge stablecoin platform, gained similar conditional approval earlier this month, followed closely by filings from Crypto.com and Payoneer. The surge underscores a new era where traditional financial institutions are not merely experimenting with blockchain—they are integrating it into their regulated banking structures.
By seeking its own trust charter, Morgan Stanley aims to position itself alongside these newly approved entities as a core player in the institutional digital custody race. Once approved, its digital trust subsidiary would have the authority to engage in fiduciary services such as safekeeping, asset transfers, staking management, and facilitating crypto related transactions for high net worth and institutional clients.
Expanding digital leadership under a dedicated crypto unit
Morgan Stanley applies for OCC bank charter to custody crypto while simultaneously strengthening its internal leadership in digital assets. Earlier this year, the firm appointed Amy Oldenburg, a senior equity markets executive, to head its new crypto division—a move widely seen as a signal of strategic continuity and confidence in the asset class.
Recent job listings on professional networks reveal that the bank is rapidly expanding its digital asset talent base. Positions such as digital assets strategy director, digital assets product lead, and digital assets strategist have been posted, indicating that the institution is preparing for a large scale operational rollout once regulatory approval is granted.
Industry analysts view this as an evolution of Morgan Stanley’s longstanding digital curiosity into full scale participation. The bank was among the first major U.S. financial institutions to offer its clients access to Bitcoin funds in 2021, and since then has been closely tracking institutional demand for secure crypto custody solutions.
The competitive edge of regulatory trust
Morgan Stanley applies for OCC bank charter to custody crypto at a time when regulatory trust has become a key differentiator in the digital asset market. A national trust bank charter grants a unique advantage by allowing financial institutions to operate across state lines with federal oversight.
This structure eliminates the patchwork of state licensing requirements that have historically slowed crypto service expansion. With such a charter, Morgan Stanley would be able to offer its crypto custody, staking, and trading services under a unified national framework providing clients with a consistent compliance environment and enhanced asset security.
The term de novo, meaning “anew,” indicates that this will be an entirely new entity rather than a restructured branch of its existing operations. Out of the 14 de novo charter filings recorded in 2025, this is the first to explicitly focus on crypto assets—a sign of how the banking landscape is evolving to accommodate the demands of digital finance.
The broader impact on institutional crypto adoption
Morgan Stanley applies for OCC bank charter to custody crypto as part of a broader trend reshaping traditional finance. As major firms like Fidelity, Payoneer, and Stripe’s Bridge step into regulated crypto custody, the line between legacy banking and blockchain finance continues to blur.
Institutional investors increasingly require secure and compliant infrastructure to manage digital portfolios. Morgan Stanley’s entry into this space is expected to accelerate the flow of institutional capital into crypto markets by providing the kind of regulated custodial framework investors have long sought.
If approved, Morgan Stanley Digital Trust could emerge as a cornerstone of institutional digital asset management, providing Wall Street-level security and regulatory clarity. With custody, staking, and transaction execution services combined under one charter, the firm is positioning itself as a central hub for the next generation of digital finance.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards.
