Morgan Stanley Files for National Trust Bank Charter to Custody Crypto, Offer Staking & Trading

Wall Street giant Morgan Stanley has significantly expanded its commitment to the digital asset sector by filing for a de novo national trust bank charter with the U.S. Office of the Comptroller of the Currency (OCC) — a move that would allow the firm to custody digital assets and offer crypto-related services like staking and trading to institutional and investment clients. 

According to a Bloomberg report, the application — submitted on February 18, 2026 under the name Morgan Stanley Digital Trust, National Association — signals a deeper push into regulated crypto infrastructure at a time when major banks are increasingly embracing digital asset workflows. 

What the Charter Would Enable

If approved, the trust bank charter would empower Morgan Stanley to:

• Hold and safeguard digital assets such as Bitcoin (BTC), Ether (ETH), Solana (SOL) and more on behalf of clients under federal supervision.

• Execute trading, purchases, sales, swaps and transfers of crypto as part of client investment activities.

• Provide staking services — enabling eligible clients to earn rewards from proof-of-stake networks as part of a fiduciary offering. 

Unlike state-by-state licensing, a nationally chartered trust bank allows institutions to offer custody and fiduciary services across the U.S. under one federal regulatory framework — reducing complexity and potentially broadening client access. 

Part of a Broader Institutional Crypto Strategy

The charter filing follows a series of recent initiatives that reflect Morgan Stanley’s evolving stance toward digital assets:

• Earlier this year, the bank applied to launch spot Bitcoin, Ether and Solana exchange-traded funds (ETFs), tapping into growing institutional demand for regulated crypto products.

• In January 2026, the firm appointed Amy Oldenburg as head of a new digital asset strategy unit, signaling expanded leadership focus on blockchain and digital finance.

• Morgan Stanley has also announced plans to launch a proprietary digital wallet later in 2026, as it broadens retail and institutional crypto offerings. 

The trust charter application aligns Morgan Stanley with a wave of banks and financial institutions pursuing federally regulated crypto infrastructure: in late 2025 and early 2026, the OCC issued conditional approvals to several crypto-focused trust banks — including entities linked to Ripple, Circle, BitGo, Fidelity Digital Assets and Paxos — while other firms like Crypto.com and Stripe-owned Bridge have also filed for national charters. 

Why It Matters

Morgan Stanley’s move represents a significant institutional shift toward embedding digital assets into mainstream banking services. By establishing a federally chartered entity capable of custody, staking and trading, the firm is positioning itself at the forefront of regulated digital asset infrastructure — potentially bridging traditional wealth management with on-chain financial services under a trusted, compliant framework.

The decision reflects broader trends of institutional adoption and regulatory alignment in crypto. It also underscores how major banks are strategically evolving from cautious observers to active participants in digital finance, offering regulated pathways for clients to access and earn yield on blockchain-based assets.