Morgan Stanley is preparing to offer crypto trading to retail customers through its E-Trade platform, according to reports. The Wall Street giant is working with zerohash on the plans after joining a $104 million funding round for the crypto and stablecoin infrastructure platform.
Interactive Broker led the Series D-2 raise for zerohash, with Morgan Stanley, SoFi, Apollo-managed funds, Jump Crypto, Northwestern Mutual Future Ventures, FTMO, IMC and Liberty City Ventures all participating.
Citing a memo, CNBC says that zerohash will help Morgan Stanley with liquidity, custody and settlement around crypto trading on E*Trade.
“We are well underway in preparing to offer crypto trading through a partner model to E-Trade clients in the first half of 2026,” Jed Finn, head of wealth management, Morgan Stanley, wrote in the memo.
In addition to crypto, the bank is planning on offering tokenised versions of traditional assets. Wrote Finn: “We see immense power in the cryptocurrency space, not just with crypto as an investment for our clients, but also around DLT and tokenization more broadly."
Zerohash plans to use the latest funding for product expansion and hiring.
“Every financial institution is looking to provide access to the crypto asset class and innovate with this technology at scale,” says Adam Berg, CFO and CAO, zerohash. “I’ve recently met with multiple large bank CEOs and financial services executives, many of whom said that they are spending more than 50% of their time driving on-chain innovation at their firms."