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Morgan Stanley’s most recent regulatory filing drew attention from cryptocurrency market analyst Pumpius, who characterizes it as a significant signal for Ripple and XRP as traditional finance expands its involvement with digital assets.

He claimed in a recent post that the Wall Street organization’s choice to go for a federally regulated digital trust is similar to the compliance route Ripple took months earlier, bringing XRP’s institutional story back into focus.

Morgan Stanley has applied for a national trust bank charter to establish Morgan Stanley Digital Trust, a structure that would enable the company to custody digital assets under federal supervision.

Large institutions are looking for structured exposure to blockchain-based assets, and this move puts the bank in a stronger position within the regulated crypto custody market.

The interpretation that this filing gives Ripple the go-ahead is based on regulatory alignment rather than a direct endorsement. Ripple established a digital asset custody vehicle under federal supervision in late 2025 when it received conditional approval for Ripple National Trust Bank.

Morgan Stanley is now supporting the broader trend toward compliance-driven infrastructure through similar initiatives. Morgan Stanley’s advisory framework, which oversees trillions of client assets across wealth and institutional divisions, would naturally benefit from the addition of digital custody services.

A national trust charter would formalize the bank’s ability to safeguard digital holdings in compliance with federal regulations if approved by the Office of the Comptroller of the Currency.