Morgan Stanley launches Digital Asset Lab to explore digital assets

Wall Street opens a new laboratory. Morgan Stanley has created an internal unit dedicated to digital assets, according to Bloomberg. Called Digital Asset Lab, it will study stablecoins, asset tokenization and certain applications of decentralized finance.

This structure complements a strategy already engaged in wealth management and online brokerage. At the end of June, the Wealth Management division alone oversaw approximately $8 trillion in client assets.

Key Points

Morgan Stanley creates an internal laboratory dedicated to stablecoins, tokenization and DeFi

The bank is studying these technologies without announcing a product or commercial timetable

E*Trade already allows select customers to purchase bitcoin, ether and solana with Zerohash

The establishment has gradually expanded its crypto offering since 2021

The Digital Asset Lab explores stablecoins, tokenization and DeFi

The Digital Asset Lab joins the network of innovation laboratories already operated by Morgan Stanley. Megan Brewer, head of market innovation at the group, confirmed to Bloomberg the creation of this team. The bank, however, did not detail its workforce or the experiments carried out.

The three areas studied cover different uses. Stablecoins represent currencies, generally the dollar, in the form of tokens exchangeable on a blockchain. The GENIUS Act, promulgated in July 2025, now gives them a federal framework in the United States, including reservation and supervision requirements.

Rather, tokenization consists of registering rights to financial securities or other assets in a blockchain ledger. It may concern monetary funds, bonds or bank deposits. Finally, DeFi automates certain exchanges and loans thanks to IT contracts, with technical and regulatory risks still difficult to integrate into traditional banking procedures.

Morgan Stanley joins a site already occupied by several competitors. JPMorgan is testing JPMD, a depository token aimed at institutional clients, on Base. Citigroup, for its part, operates Citi Token Services for payments and liquidity management, while Bank of America has expressed interest in a possible banking stablecoin.

From wealth management to crypto trading on E*Trade

Morgan Stanley has been moving forward in stages since 2021. The bank began by giving certain wealthy clients access to funds exposed to bitcoin. In 2024, it then authorized its advisors to offer spot Bitcoin ETFs from BlackRock and Fidelity to clients meeting its criteria.

In fall 2025, the institution expanded access to crypto funds in its wealth management division. Its allocation framework can go up to around 4% for the most offensive profiles, without making this limit a uniform recommendation for all clients.

The group has also added the direct purchase of cryptocurrencies to its brokerage offering. Since July 2026, eligible E*Trade customers can buy, sell and hold bitcoin, ether and solana in a Zerohash account linked to their wallet. Assets thus appear alongside traditional investments in the broker interface.

Morgan Stanley finally participated in the financing of Zerohash during a $104 million funding round announced in September 2025. The provider provides the technical infrastructure, while E*Trade distributes the service to its users.