Woofun AI reports that Morgan Stanley received preliminary conditional approval from the Office of the Comptroller of the Currency to establish a national trust bank for digital assets. The OCC filing classifies this as a new bank charter under a holding company with requested trust powers. Upon final approval, the firm intends to retain customer assets, transaction administration, staking administration, and lending-collateral functions within its group. This move aims to reduce reliance on external custodians and staking administrators by consolidating control points. While execution venues and validator operations remain outside the trust bank's scope, the shift could diminish the centrality of crypto-native intermediaries in client workflows.