Morgan Stanley CEO says lender is exploring path to offer crypto in the US

Morgan Stanley CEO Ted Pick said the lender is exploring however it tin connection crypto services successful the US and intends to prosecute with regulators erstwhile the reappraisal is complete. 

During an quality connected CNBC’s Squawk Box connected Jan. 23, Pick said that Morgan Stanley’s equation is knowing however to enactment arsenic crypto transactors portion being a “highly regulated fiscal institution.”

He added:

“There we volition beryllium moving with the [US] Treasury and the different regulators to fig retired however we tin connection that successful a harmless way.”

Pick besides said that clip is simply a caller market’s friend, arsenic cognition becomes world proportionally to the clip spent connected trading successful it.

Additionally, regarding the caller trading fever of the memecoin related to President Donald Trump, Pick noted that liquidity expresses itself successful “all kinds of antithetic ways.”

A recent report by Chainalysis pointed retired that Official Trump (TRUMP) and Melania Meme (MELANIA) memecoins perchance attracted caller retail money.

Approximately 50% of TRUMP and MELANIA holders ne'er bought altcoins issued connected Solana before, and astir fractional of the buyers created wallets connected the time they made their memecoin purchases.

Confirming reports

Morgan Stanley’s crypto subsidiary, E-Trade, is reportedly preparing to motorboat spot crypto trading services for its clients amid anticipation of a favorable crypto scenery nether the Trump administration.

However, arsenic Pick suggested successful the interview, offering crypto to a accepted fiscal instauration has complications. E-Trade would request support from cardinal regulators, including the Federal Reserve since it is tied to Morgan Stanley.

Meanwhile, TradFi is progressively showing involvement successful the crypto market, with galore institutions exploring imaginable services. Charles Schwab, the largest publically traded brokerage successful the US, has besides expressed involvement successful crypto trading. 

Charles Schwab CEO Rick Wurster precocious indicated that the steadfast is exploring the possibility of entering the spot crypto marketplace if regulatory conditions amended successful the US.

The station Morgan Stanley CEO says lender is exploring way to connection crypto successful the US appeared archetypal connected CryptoSlate.