Morgan Stanley has filed an application with the Office of the Comptroller of the Currency for a de novo national trust bank charter, deepening its commitment to regulated digital asset services.
The application, submitted on February 18 under the name “Morgan Stanley Digital Trust, National Association,” outlines plans to create a newly formed entity focused specifically on digital asset custody and fiduciary activities.
If approved, the trust bank would hold digital assets on behalf of clients and facilitate purchases, sales, swaps, transfers, and staking services to support broader investment strategies.
A national trust bank charter authorizes institutions to conduct fiduciary operations such as asset safekeeping and custody, while “de novo” indicates the bank would be established from scratch rather than acquired.
Industry-Wide Push For Regulatory Frameworks
Morgan Stanley’s move comes amid a surge in applications for crypto-focused trust banks, reflecting growing institutional demand for clearer regulatory structures governing digital asset custody and stablecoin services.
In December, the OCC conditionally approved five crypto-related trust bank applications, including proposals from First National Digital Currency Bank, Ripple, BitGo, Fidelity Digital Assets, and Paxos.
Additional filings followed from Bridge, owned by Stripe, Crypto.com, and Payoneer, all seeking national trust bank charters to expand digital asset offerings within established banking frameworks.
Approximately 60 national trust banks are currently supervised by the OCC, and Morgan Stanley’s application represents one of 14 de novo charter filings recorded during 2025.
Internal Expansion Supports Strategy
The investment bank has simultaneously strengthened internal capabilities, appointing equity markets executive Amy Oldenburg in January to lead its newly established digital assets unit.
Recent job postings indicate the firm is recruiting for roles including digital assets strategy director, digital assets strategist, and digital assets product lead to scale its crypto operations.
Earlier this year, Morgan Stanley filed proposals to launch spot Bitcoin and Solana exchange-traded funds, followed by a separate filing for a staked Ether ETF.
By combining regulatory infrastructure, talent acquisition, and new product development, Morgan Stanley appears to be positioning itself as a comprehensive institutional gateway to the evolving digital asset ecosystem.
