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FIGR_HELOC $1.00Morgan Stanley opens Digital Asset Lab to test stablecoins and DeFi
The Wall Street bank says the lab will test stablecoins, tokenization and DeFi separately from its core systems.
Key takeaways
- The fee is 0.14%. Morgan Stanley's Ethereum and Solana ETFs charge a fee of 0.14%.
- Reported September 29. Bloomberg reported the Digital Asset Lab on September 29.
- The spot ETF came in April. The bank became the first to launch a spot Bitcoin ETF, Morgan Stanley Bitcoin Trust (MSBT).
What happened
Morgan Stanley has set up a Digital Asset Lab. Bloomberg reported the launch on September 29. The unit tests stablecoins, tokenization and DeFi applications. It sits inside the bank's existing innovation lab network, which lets staff try new technology apart from the firm's core systems.
Megan Brewer leads market innovation and labs at the firm. In an interview, she said the bank will explore tokenized deposits, CBDCs, money-market funds and DeFi vaults. Those vaults could run investment strategies around the clock.
Why it matters
The lab adds to a wider crypto build-out at the bank. Clients can trade Bitcoin, Ethereum and Solana on E*Trade. Morgan Stanley became the first bank to launch a spot Bitcoin ETF, the Morgan Stanley Bitcoin Trust (MSBT), in April. Its Ethereum and Solana ETFs charge a fee of 0.14%.
The bank also runs the Stablecoin Reserves Portfolio (MSNXX) money market fund and has disclosed XRP holdings through ETFs. It raised its holdings in Armada Acquisition Corp II, the SPAC partner of Evernorth Holdings, which is backed by Ripple.
What the data shows
The Ethereum and Solana ETFs carry a fee of 0.14%.
Bloomberg reported the Digital Asset Lab on September 29.
Background
Morgan Stanley already offers crypto ETFs and trading on E*Trade. It also launched the Stablecoin Reserves Portfolio, a money market fund.
What is still unclear
- The reports do not say whether the lab will produce client-facing products, or when.
- The report notes XRP holdings and interest in that area, but the bank has not announced an XRP ETF.
Questions readers ask
What is Morgan Stanley's Digital Asset Lab?
It is a unit the bank set up to test stablecoins, tokenization and DeFi applications. It is part of Morgan Stanley's existing innovation lab network, which lets employees test emerging technology away from core systems. Bloomberg reported the launch on September 29.
Which crypto products does Morgan Stanley offer now?
Clients can trade Bitcoin, Ethereum and Solana on E*Trade. The bank launched the Morgan Stanley Bitcoin Trust spot Bitcoin ETF in April, and its Ethereum and Solana ETFs charge a 0.14% fee. It also runs the Stablecoin Reserves Portfolio (MSNXX) money market fund.
Will the lab create new products for clients?
The bank has not announced client products from the lab. Megan Brewer said in an interview that the firm will explore tokenized deposits, CBDCs, money-market funds and DeFi vaults.
Does Morgan Stanley hold XRP?
The report says the bank disclosed XRP crypto holdings through ETFs. It also increased holdings in Armada Acquisition Corp II, the SPAC partner of Evernorth Holdings.
Sources · 5 publishers
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BREAKING: Morgan Stanley Expands Deeper into Crypto with Digital Asset Lab Launch -
Morgan Stanley Launches Digital Asset Lab to Test Stablecoins and DeFi
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Morgan Stanley Launches Digital Asset Lab to Explore Stablecoins and Tokenization -
Morgan Stanley Has ‘Digital Asset Lab’ To Test Crypto Products: Report -
Morgan Stanley Opens a Digital Asset Lab to Test DeFi Vaults Away From Its Core Systems
