Morgan Stanley launches cryptocurrency research team

The financial institution is deepening the development of crypto and other digital assets in global markets

Morgan Stanley created a new research division that aims to investigate the development of crypto assets and for this it appointed Sheena Shah as the main cryptocurrency analyst.  Shah comes from playing a crucial role as Morgan Stanley’s “chief currency strategist covering G10 currencies for over eight years and contributed to the bank’s cryptocurrency-related research efforts.”

As part of her new responsibilities, Sheena Shah will focus on studying “the impact of cryptocurrencies on stocks and fixed-income investments, such as treasury and corporate bonds.”

The decision was disseminated through an internal statement to the staff of the financial institution, in which the bank’s board of directors stressed that the formation and launch of a group of people dedicated to cryptocurrency research is due to the increase and importance that has been obtaining this type of digital assets in the world market.

Morgan Stanley, for about a year, has been breaking into the digital asset market, increasing its direct manifestation to Bitcoin through different “Grayscale Investments investment funds”. According to unofficial information, the financial institution “allegedly introduced an investment tool in Bitcoin for millionaire clients.”

The information on the formation of this research group is provided at a time when the traditional financial system is creating and applying strategies that allow it to adapt to the new cryptocurrency market, which is growing surprisingly, “going from about 350,000 million from dollars a year ago to 2.1 trillion today.”

The largest banks in the US are creating a unit within their organizational structure for digital assets. In July the Bank of America instituted a cryptocurrency research division. Previously, State Street had announced its division on digital finance and the big Wall Street banks, JPMorgan and Goldman Sachs Group, also implemented cryptocurrency trading services in 2021.

M. Rodríguez

Source: cointelegraph

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