Why Morgan Stanley's CFO sees tokenization as the next big step for its multi-trillion wealth business

What Happened

Morgan Stanley executives discussed tokenization and blockchain-based systems during first-quarter earnings. CFO Sharon Yeshaya described a future where assets move across digital rails. The bank, which oversees trillions in client assets, frames onchain finance as part of core wealth strategy, not standalone crypto. Morgan Stanley recently launched a digital asset pilot through Zero Hash, allowing E*Trade clients to buy cryptocurrencies. The firm appointed Amy Oldenburg as head of digital assets and launched a spot bitcoin ETF.

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