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• Morgan Stanley (NYSE:MS) has applied for a national trust charter focused on digital asset custody and services.

• The charter would allow the bank to directly hold client digital assets and provide related services under federal oversight.

• The move marks a new step in the bank’s build out of regulated cryptocurrency infrastructure for institutional and wealth management clients.

Morgan Stanley is already a major player in wealth management and institutional services, and this digital asset trust application fits squarely within that core business. Large banks and custodians have…