Analysts consider Morgan Stanley’s possible entry into the crypto ecosystem after this alliance, bringing these options to its clients in the future.
The renowned US-based international banking entity Morgan Stanley recently announced the purchase of the E*Trade brokerage platform, closing the deal for USD $13,000 million.
According to information published by various news media, this alliance will allow the entity to access the 5.2 million investors assigned to E*Trade, which manage around USD $360,000 million invested in its various products and funds.
Reports suggest that the customer base managed by E*Trade far exceeds that of the US bank, as the brokerage company enjoys a lot of popularity among retail clients thanks to its 0% commission structure. This would allow the banking entity to reach a greater variety of clients and design commercial strategies specially directed for this type of investors.
Does Morgan Stanley enter the crypto ecosystem?
However, one of the highlights of this alliance is the possibility that the acquisition will be a bridge for Morgan Stanley to officially enter the digital currency ecosystem.
Reports published by various news agencies indicate that E*Trade was involved in the launch of a cryptocurrency trading platform in April last year, a service that could be integrated into the product line offered by Morgan Stanley, although it is still not entirely clear how would that process be carried out.
However, this would not be the first time that Morgan Stanley tests with technology associated with digital currencies and block networks, since by the end of 2018 he conducted tests with a payment compensation service based on Blockchain, which operated directly on IBM Hyperledger.
Originally, Morgan Stanley executives also reported on their intentions to offer customers trading options related to Bitcoin. However, the entity handled this with great discretion and did not offer public details about this new possibility.