Morgan Stanley, one of the largest investment banks in the world, is said to have been appointed to provide currency trading on the consumer platform, E*Trade.
According to Bloomberg a report Quoting sources familiar with the matter, the banking giant plans to allow customers to buy and sell encrypted currencies starting next year, and benefit from efforts to cancel the recent restrictions led by President Donald Trump.
E*Trade to allow direct encryption investments
This initiative represents a pivotal moment of Morgan Stanley as it seeks to enhance its offers in the financial scene. According to what the company was considered in partnerships with the applicable digital asset companies to develop the infrastructure necessary for the circulation of virtual assets.
Etrade, which was obtained by Morgan Stanley in 2020 for $ 13 billion, serves more than 5 million users. While the platform provided access to Bitcoin (BTC) and ETHEREUM (ETH) through Funds circulating for exchange (ETFS), direct investment in these digital currencies is not yet available.
The expected step to allow the circulation of direct digital assets will put Etrade competitively against popular platforms such as Robinhood and Coinbase, which has already created a strong foothold in the market, especially in the United States.
Traditional financing turned towards digital assets
The timing of Morgan Stanley’s advertisement is especially noticed, coincides with the Federal Reserve Decree (Fed) to cancel the previous directives that warned banks against engaging with encrypted currencies.
This shift indicates a possible opening for Financial institutions To explore innovative methods of encryption space, align with Trump’s pro -profit position.
The president has made clear that it aims to put the United States as “the world of encryption in the world”, reflecting many Organizational measures Which was implemented under Biden administration.
The second Donald Trump administration at the White House also took steps to create a national bitcoin reserve digital assets and support the development of a clear organizational framework for the advanced industry.
The momentum in the traditional financing sector towards digital assets grows. It is worth noting that in March announced that it had begun to test its Stablecoin, while the CEO of the American America Brian Mynihan expressed his interest in entering the Stablecoin market pending the creation of an organizational framework.
At the time of writing this report, the total market value of encryption is approaching $ 3 trillion for the first time in nearly two months. As such, the pioneering BTC in the market, BTC, again near the $ 100,000 sign, is currently trading at 96,865 dollars.
This not only shows the renewed interest in the origins of risk from institutions such as Morgan Stanley, but also a broader sense of joy among retailers who expect new standard levels in the encrypted currency in this quarter.
Distinctive image from Dall-E, Chart from TradingView.com
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