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Morgan Stanley, a leading global financial services firm and U.S.-domiciled depository institution, has is seeking a de novo national trust bank charter for its newly formed digital asset subsidiary.
What's the Scoop?
- New Subsidiary: Acting through a subsidiary bank holding company, Morgan Stanley applied on February 18th with the Office of the Comptroller of the Currency (OCC) to receive a national trust bank charter for "Morgan Stanley Digital Trust, National Association" (MSDTNA).
- Stablecoin Synergies: National trust bank charter holders can offer nationwide asset custody, without needing to secure individual licenses at the state level. The license has been recently obtained or sought by numerous crypto companies that want to issue GENIUS Act-compliant stablecoins. According to Morgan Stanley's application, the newly formed bank will support its Wealth Management group.
What's the Take:
Although Morgan Stanley's OCC application doesn't explicitly say so, we're fairly certain the bank will be using its "Morgan Stanley Digital Trust" to issue stablecoins and other tokenized assets in the near future.
Morgan Stanley has applied to form a national trust bank focused on digital asset activities. https://t.co/oeto1spkYw pic.twitter.com/45oOFDDtNZ
— Bank Reg Blog (@bank_reg) February 27, 2026
