Morgan Stanley CEO TED PickIn a statement at the World Economic Forum in Davos, the bank announced that the bank is preparing to step into the crypto currency sector. Speaking to CNBC, Pick stressed that the initiative will take place in close cooperation with US regulators. Morgan Stanley, one of the largest banks in the world, is now clearly Morgan Stanley, crypto currency investigating ways to provide services in the sector.
Morgan Stanley’s approach to crypto currencies
From the giants of traditional finance Morgan Stanleythe crypto currency sector also plays a leading role. Bank, Bitcoin for its wealthy customers in 2021 $105,174.1 He was able to attract attention as one of the first US banks that started to provide storage services. Last year, Spot had an important position in the industry by explaining that it has invested a total of 269 million dollars in Bitcoin ETFs.
Pick, while elaborating the bank’s approach to crypto currencies, said, “For us, the issue is to understand how to act in this field as a strictly supervised financial institution.” Pick, US Treasury Department and to work with other regulators safely and legally Crypto Money Services said they aim to present.
The banking world is rapidly approaching crypto currencies
Morgan Stanley’s crypto money move shows that corporate interest in the sector continues to increase. Bank of America CEO at the same time Brian Moynihan Da gave a similar message from Davos.
Moynihan said that if the organizers give approval, the banking system will rapidly integrate into crypto currency transactions.
The crypto money market is currently the subject of headlines with these positive steps from the traditional financial world. Morgan Stanley and other major banks may be an important turning point for the progress in this area to make crypto currencies a part of the mainstream finance. It seems that the future of the sector will continue to be shaped by strict but constructive arrangements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
