It is said that the banking giant Morgan Stanley is planning to provide coding trading E*
Morgan Stanley, one of the world’s largest investment banks, is planning to provide encryption trading on the consumer platform in the last step by a traditional financial institution to benefit from the cancellation of President Donald Trump’s organization from the encryption industry.
The banking giant plans to allow its customers to buy and sell encryption at E*Trade, which begins next year, according to Bloomberg. a reportQuoted from “people familiar with this issue.” In order to create and preserve the complex mechanisms needed to exchange encryption, according to what the company is taught to partner with one or more encryption companies, according to the report.
Morgan Stanley refused to comment when calling him luck. The e*trade did not respond immediately on a request for comment from luck.
E*Trade, which was obtained by Morgan Stanley in 2020 for $ 13 billion, is a trading trading platform, options and other assets. It currently has more than 5 million users who can access Bitcoin and Ethereum in the form of boxes circulating on the stock exchange-trading devices in the stock market that follows the price of encrypted currencies-but cannot invest directly in digital assets.
If Morgan Stanley is fluent in his informed ambitions, he will enter a crowded field, in the face of a competition from popular coding platforms such as Robinhood and Coinbase.
Morgan Stanley’s interest in becoming more involved in the encryption trade in the wake of the Federal Reserve advertisement Last week, the guidance was canceled from 2022 and 2023, which urged banks to be careful when dealing with cryptocurrencies and relevant activities. At the same time, the Federal Reserve said it “will take into account whether it is additional guidelines to support innovation, including encrypted asset activities, suitable.”
President Donald Trump has explained his pro -aging position, promising To make America “the capital of encryption in the world”. During the first 100 days of his post, the President reduced many enforcement procedures related to the encryption that occurred under the Biden administration, and he established a national bitcoin reserves and supported the development of an organizational framework for this industry.
Many traditional financing companies have already benefited from the changing organizational scene in Fedelity investments in the United States that they started testing their Stablecoin in March. In addition, in February CEO of America Brian Moinhan expressed his interest in entering the Stablecoin market as soon as an organizational framework is done by legislators.
This story was originally shown on Fortune.com
