Morgan Stanley Mulls Crypto Trading Launch On E-Trade Platform, The Information Says
Wall Street investment banking giant Morgan Stanley is reportedly considering adding crypto trading to its online E-trade brokerage platform. According to a Jan. 2 report by The Information, the wealth manager’s decision is based on the anticipated friendlier digital asset policy in the US under incoming President Donald Trump, who wants to make the US “the world’s crypto capital.” Morgan Stanly Could Challenge Coinbase’s Dominance In the Market Morgan Stanley completed its acquisition of E-Trade in 2020 through a $13 billion all-stock deal. If Morgan Stanley adds crypto trading to E-Trade, it would make it one of the biggest traditional retail brokerages to implement support for digital asset trading. This could lead to some healthy competition for the leading US crypto exchange, Coinbase. Other traditional brokerage firms such as Robinhood, Fidelity and Interactive brokers already offer crypto trading on their respective platforms. Meanwhile, Charl...