According to Bloomberg, Morgan Stanley has applied for a license to establish a "New National Trust Bank" to provide custody services for digital assets. According to the application submitted to the Office of the Comptroller of the Currency (OCC) on February 18, the entity will also be used to conduct digital asset trading and staking services for its investment clients. The institution's headquarters will be located in Purchase, New York, but its service coverage will span the entire United States.

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