Earlier this month, Morgan Stanley’s E-TRADE was reported to be exploring starting cryptocurrency trading, according to a report by The Information. Now Morgan Stanley CEO Ted Pick said the bank itself is exploring cryptocurrency.
“I think the broader question is whether some of this has come of age. Whether it has hit escape velocity. Time is the friend. The longer it trades, perception becomes reality,” said Mr Pick, talking at the World Economic Forum in Davos.
“For us, the equation is really around whether we, as a highly regulated financial institution, can act as transactors,” Mr Pick told CNBC’s Andrew Ross Sorkin.
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