Morgan Stanley to add encryption trading to E*Trade where federal reserves reduce restrictions – Tradingview News

Morgan Stanley is preparing to provide cryptocurrency trading on the e**. This will be the most direct step to date by a major American bank to allow retail users to buy and sell digital assets.

This step comes amid organizational changes in the United States. On Thursday, the Federal Reserve removed two official supervisory messages that raised banks from engaging in encryption activities. Change means that state members of the states no longer need to notify the Federal Reserve Bank in advance of the activities of the planned or current encrypted assets. This will now be reviewed through the standard supervision process.

Trading the next encryption to E*

The plan is still in its early stages. According to Bloomberg, the launch may take place next year. The bank explores partnerships with the original encrypted companies to support the technical side of the trading system.

Morgan Stanley already offers some encryption products, such as circulating investment boxes, options and futures. This aims at the richer customers. The new plan will expand access to a broader set of users.

The Trump era renewed the interest of encryption

According to what was reported, the internal talks gained momentum after Donald Trump returned to the White House last year. His administration began to reflect many coding regulations. This encouraged some financial institutions to reconsider their approach to the sector.

If Morgan Stanley continues, pressure on platforms that focus on encryption may increase such as Coinbase and Kraken. These companies are currently serving a large share of the retail market.

Other financial companies are heading towards encryption. Charles Schwab showed interest in providing topical trading. Sophie also reviews encryption plans. It says the US market has undergone a fundamental change.

You may find interesting in Financemagnates.com: Morgan Stanley has a fine of $ 15 million to steal the client’s fund.

E*The new trade platform targets active traders

Meanwhile, E*Trade introduces a new platform called “Power Etrade Pro” that aims to active merchants. Currently in the experimental stage, the platform is scheduled to be fully launched in June, according to Bloomberg.

The new platform will compete with services such as Charles Schwab’s Thinkorswim and Robinhood Legend, providing a customization of up to 120 tools via six screens. It will also include a separate desktop customer as well as the current web and mobile options.

Morgan Stanley acquired E*Trade in October 2020 for $ 13 billion, expanding its wealth management services and adding more than 5 million retail customer accounts.