Morgan Stanley Crypto Head Quits to Launch DeFi Fund in Switzerland

Andrew Peel, Morgan Stanley's head of digital asset markets, has left the bank to launch a new crypto and technology investment firm based in Zug, Switzerland. The new venture will focus on tokenized funds and trading tools designed to bridge traditional finance and decentralized finance (DeFi), aiming to help institutional investors navigate the evolving regulatory landscape. Peel, a former Credit Suisse trader who joined Morgan Stanley in 2018, stepped down in March and plans to begin fundraising soon. His departure coincides with Morgan Stanley's preparations to expand crypto trading services to retail investors via its E*TRADE platform, following earlier initiatives to offer Bitcoin fund access to institutions. Wall Street's growing interest in digital assets is bolstered by a friendlier U.S. policy environment and increasing demand for tokenized investment products from major firms like BlackRock and Franklin Templeton. This move reflects a broader trend of traditional financial firms seeking to integrate and participate in the crypto market amid regulatory developments.