Morgan Stanley Applies to OCC to Establish Digital Asset Trust Bank

Morgan Stanley’s wealth and investment management businesses had $9.3 trillion in client assets as of the fourth quarter of 2025. The proposed national trust bank would bring digital asset custody, trading, settlement and staking infrastructure into the group, reflecting efforts by major Wall Street banks to accelerate the development of their own crypto-finance infrastructure.

The Office of the Comptroller of the Currency received Morgan Stanley Digital Trust’s application on February 18, 2026, and granted preliminary conditional approval on June 18. The institution cannot begin operations until it meets the OCC’s opening requirements. For its first three years, it must maintain at least $50 million in Tier 1 capital, with at least half held in eligible liquid assets, as well as sufficient funds to cover 180 days of operating expenses.