Andrew Peel has left his role as head of Morgan Stanley digital asset markets (MS) to launch an investment and cryptography technology in Zug, Switzerland, Bloomberg reported on Tuesday.
The company will focus on tokenized funds and commercial tools that contain traditional finances and define, according to Bloomberg.
Peel, a former Credit Suisse merchant who joined Morgan Stanley in 2018, resigned in March and plans to start raising funds soon, according to the story.
Its departure occurs when Morgan Stanley prepares the trade of retail cryptocurrencies in commerce E*next year, according to a report earlier this month, expanding beyond access to the Bitcoin Fund he launched for institutions in 2021.
The impulse of digital assets of Wall Street is accelerating in the midst of the policy of the United States and the growing interest in tokenized funds of companies such as Blackrock and Franklin Templeton.
A spokesman for Morgan Stanley declined to comment to Bloomberg.
Read more: Morgan Stanley Eyes launching Crypto Trading through E*Trade: Bloomberg
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