Why Morgan Stanley's CFO thinks tokenization is the next big step for its multi-trillion wealth business

Morgan Stanley CFO Sharon Yeshaya says the bank is eyeing a "tokenized world" where blockchain technology allows client assets and liabilities to move more efficiently across its wealth management platform. What to know : Morgan Stanley is positioning tokenization and onchain finance as the next phase for its wealth management business, aiming to move assets and liabilities more fluidly over digital rails. The bank's chief financial officer emphasized that blockchain-based infrastructure will be integrated into core services such as client advisory, lending and cash management, rather than treated as a standalone crypto effort. The bank recently advanced this strategy through a digital asset pilot with Zero Hash and has expanded leadership under a new head of digital assets, as well as new bitcoin offerings, including its own spot ETF, even as digital assets remain a small part of its business today.