Morgan Stanley has applied to the Office of the Comptroller of the Currency (OCC) to establish a dedicated digital asset trust bank.
According to a filing published on February 27, the proposed entity, Morgan Stanley Digital Trust, National Association (MSDTNA), would operate as a nationally chartered trust bank focused on custody services for crypto assets.
The trust bank, which would be wholly owned by Morgan Stanley Capital Management, plans to hold digital assets on behalf of clients and conduct related activities, such as buying, selling, swapping, and transferring tokens to support investment strategies. The entity would also facilitate staking services on a fiduciary basis.
The leadership team draws from Morgan Stanley’s existing banking subsidiaries. John Ryan would serve as the new trust bank’s chairman and chief executive, with Chad Turner as president and Amanda Kan as chief operating officer.
Morgan Stanley’s wealth management division, which the trust bank would support, has observed substantial crypto holdings among its client base that currently sit outside the firm’s platforms. The new entity could bring those assets in-house under a regulated structure.
Major US financial institutions have accelerated efforts to build compliant infrastructure for digital asset services amid a more favorable regulatory climate under President Trump. Competitors, including BNY Mellon and State Street, have also pursued crypto custody capabilities.
Morgan Stanley is exploring Bitcoin-backed lending and yield products as part of its digital asset roadmap. The bank plans to allow E*Trade customers to trade spot crypto before introducing its own custody and exchange platform.
Amy Oldenburg, Morgan Stanley’s head of digital assets, said at Strategy World 2026 that the bank aims to build in-house infrastructure and reduce reliance on third-party technology.
