Morgan Stanley, one of the largest investment banks in the world, should introduce cryptocurrency trade on its consumer public platform, e * trade.
According to a Bloomberg report Citing familiar sources with the issue, the bank giant plans to allow customers to buy and sell cryptocurrencies from next year, capitalizing on recent deregulation efforts led by President Donald Trump.
Trade to allow direct investments in cryptography
This initiative marks a pivotal moment for Morgan Stanley as he seeks to improve his offers in the financial landscape. The firm will envisage partnerships with established digital asset companies to develop the infrastructure necessary to negotiate virtual assets.
Etrade, acquired by Morgan Stanley in 2020 for $ 13 billion, currently serves more than 5 million users. While the platform gave access to Bitcoin (BTC) and Ethereum (ETH) through Fund negotiated in exchange (ETF), direct investment in these digital currencies has not yet been available.
The decision scheduled to allow the trading of direct digital assets would be competitively and competitively against popular platforms such as Robinhood and Coinbase, which have already established solid foundations on the market, especially in the United States.
The transition from traditional finance to digital assets
The schedule of Morgan Stanley's announcement is particularly remarkable, coinciding with a decision of the Federal Reserve (Fed) to cancel the previous guidelines that warned banks against commitment with cryptocurrencies.
This change indicates a potential opening for financial institutions To explore innovative paths in cryptographic space, align with Trump's pro-Crypto position.
The president clearly indicated that he aims to position the United States as “the world capital of cryptography”, reversing many members regulatory measures which have been implemented under the Biden administration.
Donald Trump's second administration at the White House has also taken measures to establish a national bitcoin and digital asset reserve and support the development of a clear regulatory framework for evolution industry.
The momentum in the traditional finance sector to digital assets increases. In particular, Fidelity Investments announced in March that he had started to test his own stablecoin, while the CEO of Bank of America, Brian Moynihan, expressed his interest in entering the stable market pending the creation of a regulatory framework.
At the time of writing the editorial staff, the total market capitalization of cryptography is approaching 3 billions of dollars for the first time in almost two months. As such, the main market crypto, BTC, has jumped again near the $ 100,000 mark, currently negotiating at $ 96,865.
This not only demonstrates the renewed interest in risk assets of institutions such as Morgan Stanley, but also a broader feeling of the conscience of detail investors who expect new record summits for cryptocurrency this quarter.
Dall-e star image, tradingView.com graphic
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