Morgan Stanley has said that Wall Street’s push into cryptocurrency has been underway for years. Amy Oldenburgh, Morgan Stanley’s head of digital assets, said banks are entering the crypto space not because of hype, but after years of infrastructure development. “Traditional finance is not entering because of FOMO; this isn’t the case,” Oldenburgh said at a Digital Asset Summit panel in New York on Tuesday. “We have been on a multi-year journey to modernize the financial infrastructure across the board,” she added.
Morgan Stanley has described Wall Street’s move into cryptocurrency as a multi-year effort. Amy Oldenburgh, the bank’s head of digital assets, said banks are entering the crypto arena not due to hype, but after extensive infrastructure upgrades. Her comments underline a shift toward gradual institutional participation as banks continue to upgrade their infrastructure, prioritizing long-term modernization over hype-driven entry.
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