Bloomberg reports The giant Wall Street company in the early stages of planning to add bitcoin trading and encryption capabilities to its ETRADE mediation. The project aims to allow ETRADE retail to buy and sell popular encryption directly through their current brokerage accounts.
This initiative, which is expected to launch executives at some point next year, is the largest batch of Morgan Stanley so far to provide bitcoin and encryption services for retailers. The bank explores partnerships with existing companies to develop commercial infrastructure, although not finished partners.
The move comes at a time when the most suitable organizational position of the Trump administration towards Bitcoin encouraged Bitcoin, and Crypto encouraged major financial institutions to expand their offers. Morgan Stanley already provides investment funds in Bitcoin, futures contracts, and options for their wealthy customers, but this will be the first encryption that provides retailers.
If launched, the service will put the Morgan Stanley in direct competition with local exchanges such as Coinbase and Kraken. Other traditional financing companies are making similar movements – Charles Schwab pointed out his interest in the trading of instant bitcoin and encryption trading, while Sofi is considering expanding bitcoin and services.
The timing is in line with the increasing institutionalization of Bitcoin and encryption, as Bitcoin is trading over $ 96,000 and continues the investment boxes circulating in Bitcoin to attract significant flows. The Morgan Stanley’s E*Trade can provide an available platform to access retail investors who are looking to obtain a direct Bitcoin exposure through an organized financial institution.
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