Morgan Stanley has filed an application with the Office of the Comptroller of the Currency (OCC) for a de novo national trust bank charter, a move that would significantly expand its digital asset services under federal banking oversight. The application, submitted under the name "Morgan Stanley Digital Trust, National Association," was received by the OCC on February 18, 2026.
The proposed trust charter would allow the Wall Street giant to custody digital assets for clients, support crypto trading, and facilitate staking within investment accounts. Reports indicate the unit plans to handle purchases, sales, swaps, and transfers of digital assets, integrating these services into client portfolios and broader digital asset strategies. A de novo charter means the bank would form a new entity rather than acquire an existing one.
This filing represents a clear strategic shift for Morgan Stanley, which manages approximately $2 trillion in assets. The bank has been steadily building out its crypto infrastructure: in January, it filed to list spot Bitcoin and Solana exchange-traded funds (ETFs), later filing for a staked Ether ETF. The bank also plans to launch its own digital wallet later this year.
The application aligns with recent internal changes, including the January appointment of Amy Oldenburg to lead the bank's digital asset strategy and the hiring for several digital asset positions. The trust charter would place custody and staking activities within a regulated banking structure, potentially offering clients greater compliance clarity.
The OCC has been active in reviewing crypto-related charter applications. In December 2025, it granted conditional approvals to several entities including Ripple, BitGo, Fidelity Digital Assets, Paxos, and First National Digital Currency Bank. More recently, Bridge (owned by Stripe) and Crypto.com received approvals. Payoneer has also filed for a similar charter. Morgan Stanley's filing is one of 14 de novo applications submitted in 2025.
Market commentators have noted that Morgan Stanley's pursuit of a federally regulated digital trust mirrors the compliance path established by Ripple, which received conditional approval for its Ripple National Trust Bank in late 2025. This has drawn renewed attention to XRP's institutional narrative, though Morgan Stanley's filing does not constitute a direct endorsement of Ripple or XRP.
