Morgan Stanley has announced major details of their cryptocurrency plan. The investment bank is preparing to add cryptocurrency trading capabilities to its E*Trade platform. According to people familiar with the matter, the firm is in the early stages of developing this service with plans to launch sometime next year.
Morgan Stanley to collaborate with crypto firms for the launch
People familiar with the matter told Bloomberg that the discussion inside Morgan Stanley started in full-fledged last year. Now the company executives believe that the next move should be to introduce spot trading on E*Trade.
The bank is considering partnerships with established cryptocurrency firms to allow the buying and selling of popular tokens such as Bitcoin and Ethereum for its brokerage clients. Morgan Stanley’s cryptocurrency plans come amid substantial changes in the regulatory environment following President Trump’s return to office.
During his campaign, Trump actively engaged with the cryptocurrency community. This includes his own digital collectibles and accepting campaign donations from crypto supporters while promising to make the United States the “crypto capital of the planet.”
Vignesh Karunanidhi
Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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