NEW YORK — Amy Oldenburg, the pinnacle of digital asset technique at Morgan Stanley (MS), rejected the concept Wall Road is simply now embracing crypto as a result of concern of lacking out, arguing that giant banks are appearing after years of preparation.
“TradFi is getting FOMO and is now getting concerned … it actually isn’t correct,” Oldenburg stated throughout a panel on the Digital Asset Summit in New York on Tuesday. “We’ve been on a journey across the complete modernization of economic infrastructure for years.”
Her feedback come as main U.S. banks, lengthy seen as cautious on crypto or latecomers to the trade, start to broaden their choices. For years, companies like Morgan Stanley restricted exercise to oblique publicity, akin to providing rich purchasers entry to bitcoin
Extra not too long ago, that is included spot bitcoin exchange-traded funds (ETFs) on its E*Commerce platform and the financial institution this month even filed to launch its personal spot bitcoin ETF.
Broader participation was slowed by regulatory uncertainty and issues round custody, compliance and market construction. That stance has began to shift, and Morgan Stanley has now outlined a extra outlined digital asset technique, with efforts spanning buying and selling, asset administration and infrastructure.
Oldenburg stated the financial institution is making ready to help tokenized equities buying and selling on its various buying and selling system.
“One of many issues that we’re planning for the second half of 2026 is popping on our trajectory cross … to help tokenized equities later this yr,” she stated. The platform already handles equities, ETFs and American depositary receipts (ADRs), which she described as a pure base for growth.
Contained in the agency, the transition requires transforming core methods. “We’re having to re-teach ourselves what legacy infrastructure, pipes and plumbing appear to be,” Oldenburg stated, pointing to the problem of upgrading decades-old monetary structure to help sooner settlement and steady buying and selling.
She additionally highlighted a niche between crypto startups and enormous establishments.
“There’s so many different connectivity factors that we have to plug in round it,” she stated, noting that founders usually underestimate how advanced financial institution methods are.
Even so, areas like stablecoins are gaining traction as a strategy to transfer cash sooner and at decrease price than conventional methods.
Adoption, nevertheless, will depend on coordination throughout the monetary system. “We will’t simply modernize on our personal,” Oldenburg stated. “That is an extremely advanced, built-in world community.”
Regardless of weak token costs, she stated exercise continues to construct. “It actually may be very early innings,” Oldenburg stated, signaling that Wall Road’s deeper integration with crypto could also be gradual, however its underway.
