Andrew Peel, who led Morgan Stanley’s Digital Asset Markets unit, leaves to start a ZUG-based company that bridges traditional finances and decentralized financing.
Morgan Stanley’s head Digital asset markets Andrew Peel left the bank to launch a new crypto company, Bloomberg has learnedWith reference to a person who is familiar with the case.
Peel, a former Credit Suisse trader, came to Morgan Stanley in 2018. He got rid of his role in March and is planning to start fundraising for his new company in the coming months, according to the sources close to the issue.
The company is said to be established in Zug, the Crypto Hub of Switzerland, and will include an “asset management vehicle that will invest both and Defi assets such as tokenized funds,” say the sources. The company will also “exploit a technology company to develop commercial products that help traditional companies bridge the gap in space as it gets more regulated.”
Earlier this year, Morgan Stanley CEO Ted Pick said that the bank wants to work closely with the American treasury and other supervisors to define his role in the cryptomarkt. Pick also said that the company would seek clarity about whether the bank could expand its role as a transactor in the cryptomarket.
Peel’s exit comes when Morgan Stanley is preparing to offer crypto -trade to retail investors via his E*Trade platform. The service is expected to go live in 2026, when crypto -trade will be available for all its 5.2 million store customers.
