{"id":9474,"date":"2025-01-24T10:16:51","date_gmt":"2025-01-24T10:16:51","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=9474"},"modified":"2025-01-24T10:16:51","modified_gmt":"2025-01-24T10:16:51","slug":"morgan-stanley-ceo-bank-planning-big-move-into-crypto","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=9474","title":{"rendered":"Morgan Stanley CEO: Bank Planning Big Move Into Crypto"},"content":{"rendered":"
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Speaking with CNBC\u2019s Andrew Ross Sorkin at the World Economic Forum in Davos, Switzerland, Pick said his bank is working with US regulators to see how it can enter the market.<\/p>\n

That\u2019s another big splash into the sea of cryptocurrency by traditional finance corporations, making the industry\u2019s dream of institutional adoption a reality.<\/p>\n

Crypto\u2019s Institutional Adoption Is Happening<\/h2>\n

Institutional adoption<\/a> has always been a key part of the overall industry\u2019s broadest roadmap for the future. Major US banks like Morgan Stanley used to ignore Bitcoin and other crypto assets. Then they laughed at them and derided them as criminal, if not impractical and foolish.<\/p>\n

But now, major players in corporate finance, like investment management giant BlackRock and now Morgan Stanley, have entered the bustling scene. Jamie Dimon\u2019s JP Morgan and company may still<\/a> be a holdout on crypto, but its competitors are entering the field with rabid ambitions to remake the world using blockchain\u2019s techniques and platforms.<\/p>\n

When Sorkin asked about his views on cryptocurrency, Pick said his<\/a> bank was ready to act. But it wants to be sure to do so with regulatory approval: \u201cFor us, the equation is really around whether we, as a highly regulated financial institution, can act as transactors.\u201d<\/p>\n

That would allow Morgan Stanley to utilize the blockchain and provide cryptocurrency services to its customers. \u201cWe\u2019ll be working with Treasury and the other regulators to figure out how we can offer that in a safe way,\u201d Pick said.<\/p>\n

Morgan Stanley Takes Lead on Bitcoin<\/h2>\n

Morgan Stanley is a leviathan in the traditional finance world. But it has been quicker than its competitors to jump on the blockchain bandwagon with the moon boys. It was among the first U.S. banks\u00a0to offer<\/a> BTC custody services to wealthy clients in 2021.<\/p>\n

During 2024\u2019s Bitcoin ETF rush, the Midtown Manhattan banking giant took the lead in buying BTC exchange-traded funds. The company revealed a<\/a> $269 million investment in Bitcoin ETFs last year.<\/p>\n

Pick\u2019s statements to CNBC weren\u2019t the only good news out of Davos for crypto from the banking sector this week. Bank of America CEO Brian Moynihan said if regulators give the go-ahead, \u201cyou will find the banking system will come in hard on the transactional side of it.\u201d<\/p>\n

The post Morgan Stanley CEO: Bank Planning Big Move Into Crypto<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Speaking with CNBC\u2019s Andrew Ross Sorkin at the World Economic Forum in Davos, Switzerland, Pick said his bank is working with US regulators to see how it can enter the market. That\u2019s another big splash into the sea of cryptocurrency by traditional finance corporations, making the industry\u2019s dream of institutional adoption a reality. Crypto\u2019s Institutional […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-9474","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/9474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9474"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/9474\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}