Morgan Stanley is preparing next year on its E*commercial platform to introduce cryptocurrency, which would be the most aggressive step of a large American bank to let ordinary people buy coins like Bitcoin and Eter.
Development was reported Bloomberg and the company people say it is too early, but serious. The company wants to cooperate with one or more cryptocurrency company to cope with the technical side, from custody to execution, so E*commercial customers can buy crypto directly.
The project began to develop inside Morgan Stanley at the end of last year, when the leaders began to go beyond the cryptofuts and ETFs. Currently, wealthy customers are already accessible to things like Bitcoin ETF and derivatives through the company.
But the management decided that that was not enough. They wanted retailers to buy real coins, not just products related to them. When technology and partnerships are in place, E*trade users get crypto directly from the same platform they use for stocks and options.
Trump's crypto policy deleted the road
The plan follows a significant change in President Donald Trump in US cryptocurrency. Upon taking office, he signed an executive order in which he ordered legislators to support digital finance and protect individual freedom. On the same day, the Securities and Exchange Committee canceled the set of rules, which, according to crypto companies, had worked with banks.
A week ago, the Federal Reserve and FDIC took things even further, giving up their 2023 warnings about the bank risks related to crypto. This step was immediately praised by the Bank Policy Institute, representing large lenders. In his statement, Paigo Paigo Paridon, co -director of BPI regulatory affairs, said: “This gives regulated financial institutions the opportunity to safely serve their clients and invest in innovative new products and services.”
Before Trump returned to the White House, most large banks avoided the crypto completely. They didn't want to burn hacks, fraud or other FTX-style collapse. Some banks even avoided taking deposits from cryptocurrencies.
There was also a long list of internal critics in the financial world. One of the louder was JPMorgan Chase CEO Jamie Dimon. Over the years, Jamie called Bitcoin “worthless”, “fraud” and even “pet stone”. But last year, he said to journalists, “I will defend your right to make a bitcoin,” and JPMorgan now collaborates with cryptocurrencies such as Coinbas and controls his jpm coin on the chip chain rails.
Morgan Stanley joins an active crypto that offers space
James Gorman, former CEO of Morgan Stanley, spoke earlier than most. James said that Bitcoin was “more than just a fad” in 2017. The company still didn't go in at that time, but now it finally pushes to real trading.
This would make this direct competition with Robinhood and Coinbase, who has been a room for the US cryptocurrency for years. For example, Robinhood earned $ 626 million in Cryptol in 2024 alone. It was 21% of its total revenue. After Trump's victory, Robinhood was more useful for the first quarter than doubled.
If Morgan Stanley succeeds, it may pull some of these customers away. The nominal brand with closer adjustment and security can go to people who have expected the crypto to feel more justified. This is bad news for existing platforms that already lose users or fight lawsuits.
The competition quickly goes crowded. After winning Trump, Charles Schwab's new CEO Rick Wurster said his company would add Spot Crypto Trading as soon as the regulations are clear. And this week, Anthony Noto, CEO of Sofi Technologies, said the company could bring back the crypto investment. Sofi pulled out of crypto in 2023, but could enter the market if the rules remain favorable.
SEC also arrested the New York Bank of New York Mellon's plan. This means that the agency does not see any rules if Bny wants to do it. Gary Gensler, who was the manager of Joe Biden, said that Bny had “done footwork” to meet the requirements. The bank is still a rare case, but it shows how things move.
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