Andrew Peel Departs Morgan Stanley to Launch Crypto Venture
Andrew Peel has left his role as Morgan Stanley’s (MS) head of digital asset markets to launch a new venture focused on the burgeoning field of cryptocurrency investment and technology. Based in Zug, Switzerland, this new firm aims to bridge the gap between traditional finance and decentralized finance (DeFi), according to a report by Bloomberg.
Focusing on Tokenized Funds and Trading Tools
Peel’s firm will concentrate on developing tokenized funds and trading tools that integrate conventional financial systems with DeFi innovations. This strategic move underscores the growing interest and potential of digital assets to revolutionize financial markets.
Having joined Morgan Stanley in 2018 following his tenure at Credit Suisse, Peel’s departure marks a significant transition. He stepped down from his role in March and is preparing to commence fundraising efforts to support the new venture.
Morgan Stanley’s Crypto Expansion
Peel’s exit coincides with Morgan Stanley’s broader strategy to enhance its cryptocurrency offerings. The bank is reportedly preparing to introduce retail crypto trading on its E*Trade platform next year. This expansion builds on Morgan Stanley’s 2021 initiative, which provided institutional clients with access to bitcoin funds.
Wall Street’s foray into digital assets is gaining momentum, fueled by evolving U.S. regulations and an increasing appetite for tokenized funds from major financial firms such as BlackRock and Franklin Templeton.
While Morgan Stanley has not publicly commented on Peel’s departure or the bank’s crypto strategy, the financial sector’s push into digital assets reflects a broader acknowledgment of the transformative potential of blockchain technology.
Read more: Morgan Stanley Eyes Launching Crypto Trading Through E*Trade: Bloomberg
For further details, visit the original article on Yahoo Finance.
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