Breaking: Morgan Stanley Applies For Crypto-Focused National Trust Bank With OCC

Morgan Stanley, one of the major financial giants globally, has requested the U.S. Office of the Comptroller of the Currency (OCC) to approve a crypto-focused national trust bank. OCC records show that the filing was received on February 18, 2026.

Morgan Stanley Digital Trust National Association is the proposed name of the Trust bank. It would be based in Purchase, New York, the firm’s headquarters, and seek complete trust powers. The application is an indicator of further institutional expansion into the regulated digital asset trust and custody offers.

Morgan Stanley Files With OCC For Trust Charter

The application is listed on the OCC website as a new national charter for a trust bank using a holding company structure. OCC confirmed receipt of this application on February 18 and has opened the period for receiving comments till March 20.

This marks the latest move from the Wall Street giant as it continues to venture deeper into the crypto space. As CoinGape reported, Morgan Stanley applied for crypto ETFs last month, looking to provide exposure to Bitcoin, Ethereum, and Solana. The firm is also looking to launch a crypto wallet for custody and tokenized assets.

Furthermore, the firm also plans to launch crypto trading for its E-trade clients this year, starting with Bitcoin, Ethereum, and Solana. Meanwhile, it has already opened Bitcoin investments to all its wealth clients, who can gain exposure through crypto ETFs.

With its trust charter filing, Morgan Stanley joins a host of other crypto firms that are seeking to become national trust banks. Ripple, Circle, and Crypto.com have already received conditional approval for their trust charter applications.

Meanwhile, crypto exchange Coinbase and Trump-linked World Liberty Financial (WLFI) are still awaiting a decision on their trust charter application.

The Morgan Stanley Digital Trust Structure

The proposed trust bank will not be insured by FDIC deposits. It will be set up under the Morgan Stanley Capital Management as an indirect wholly owned subsidiary.

The entity is meant to serve Morgan Stanley Wealth Management clients consisting of individuals, businesses and institutions. The services will be aimed at fiduciary administration and the custody of digital assets.

As CoinGape reported, the OCC has made it clear that national trust banks can engage in non-fiduciary activities as they are no longer restricted to fiduciary services. These involve custody service and safekeeping services of the banking business but without accepting deposits.

During the first three years of its operation, the Morgan Stanley trust will custody some digital assets and carry out related transactions. These are purchase, sale, transfer and staking on a fiduciary basis to carry out investment activity for clients.