Morgan Stanley's e-commerce subsidiary is gearing up to offer crypto trading. Information reported John is 2, According to two people familiar with these plans.
According to the report, the lender's move is due to anticipation of a more favorable regulatory environment under the president-elect. Donald Trump's Input management
However, before launching such a service, e-commerce needs approval from key regulators, including the Federal Reserve. Its parent company is a bank holding organization, so it is under the supervision of the central bank.
Morgan Stanley bought e-commerce in 2020. At the time of the acquisition, it had more than 5.2 million accounts and $360 billion in assets under management.
Morgan Stanley's entry into the crypto business brings significant capital and legitimacy to the space, potentially encouraging more participation from individual and institutional investors.
It is worth noting, Charles Schwabhas also been the largest public brokerage in the United States expressed interest In crypto trading
In November, CEO Rick Worcester said Schwab would explore the possibility if regulatory conditions improved. Like e-commerce, Schwab needs Federal Reserve approval for its banking operations.
If these companies gain the necessary approvals, the crypto market could see a wave of new entrants and intensified competition, challenging established players and bridging the gap between traditional and digital finance.
Crypto Optimism in the US
The potential launch of cryptocurrency trading services by traditional financial giants highlights mainstream interest in the sector now that regulation could become friendlier.
As Trump introduces crypto-friendly names to his team, such as The new chairman of the US Securities and Exchange Commission Paul AtkinsThe participation of established institutions can change the competitive landscape while attracting more capital to the market.
In addition to traditional financial firms joining the crypto market, industry players hope For surveillance moves on Trump's first day. Executive orders to facilitate access to banking services are among the expectations.
In addition, new crypto-related products can enter the markets and further increase institutional interest. Bloomberg Exchange Traded Fund (ETF) Analysts. Eric Balchunas and James Seyfart Waiting a Wave of approval For new crypto ETFs this year.
