Morgan Stanley has applied for a US National Trust Bank charter for digital asset trading.

Morgan Stanley has filed with the Office of the Comptroller of the Currency (OCC) to establish an independent digital asset trust bank.

In the year

Trust Bank, which is wholly owned by Morgan Stanley Capital Management, plans to transfer tokens to support digital asset holdings and related activities such as buying, selling, swapping and investment strategies on behalf of clients. The legal entity facilitates a trust-based service.

The management team will draw from Morgan Stanley's existing banking subsidiaries. John Ryan will serve as Trust Bank's new chairman and CEO, with Chad Turner as president and Amanda Kahn as chief operating officer.

Morgan Stanley's wealth management division, which is backed by Fidelity Bank, has seen significant crypto holdings among its client base currently sitting outside the firm's platforms. The new entity may bring those assets in-house under a structured structure.

Major U.S. financial institutions have accelerated efforts to build a compliant infrastructure for digital asset services under a more favorable regulatory environment under President Trump. Competitors including BNY Mellon and State Street have followed suit with crypto protection capabilities.

Morgan Stanley is exploring Bitcoin-backed lending and production as part of its digital asset roadmap. The bank plans to allow E*Trade customers to trade crypto before introducing its own regulatory and exchange platform.

Amy Oldenburg, Morgan Stanley's head of digital assets, said the bank aims to build infrastructure in-house and reduce reliance on third-party technology.

The application comes as Morgan Stanley expands its digital assets division.

LinkedIn's job listings were first reported by GSR chief content officer Frank Chaparro, saying the firm is hiring for leadership roles such as digital assets strategist and portfolio enablement and management. led in New York.

The recruiting effort also emphasizes regulatory and operational depth, with roles such as Compliance Officer in Dallas and Director of Operations Strategy in New York, supporting the regulatory framework.

Morgan Stanley is hiring for dozens of crypto roles and opening pipelines at the same time.

Grayscale Bitcoin Mini Trust ETF ($BTC) is now available on the Morgan Stanley platform, opening access to over $7.4T in advisory AUM.

2026 will be explosive for crypto. pic.twitter.com/pXuCvpOkuq

— Frank Chaparro (@fintechfrank) January 27, 2026