Morgan Stanley CFO: Tokenization will become the next phase of the trillion-dollar wealth management business
Sharon Yeshaya, Chief Financial Officer of Morgan Stanley, stated that tokenization and on-chain finance will become key evolutionary directions for its wealth management business.
The company is envisioning a "tokenized world," where customer assets and liabilities can flow as efficiently as funds through blockchain infrastructure, thereby reshaping asset allocation, lending, and cash management methods. Unlike viewing cryptocurrency as a standalone business, Morgan Stanley plans to embed on-chain capabilities into its core service system, including investment advisory, financing, and liquidity management, to drive an overall upgrade of the financial architecture. This strategy has been gradually implemented through digital asset pilots with ZeroHash and products like Bitcoin ETFs. Although the current share of cryptocurrency business in the overall system is still small, its position in the future wealth management system is rapidly increasing.
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