Morgan Stanley exec: Banks' crypto entry is a long-term strategy, not FOMO

Banks' expansion into the cryptocurrency sector is the result of years of infrastructure development, not a reaction to the fear of missing out (FOMO), according to Amy Oldenburg, head of digital asset strategy at Morgan Stanley. Speaking at a panel discussion at the Digital Asset Summit, she explained that major banks are operating based on years of internal research, CoinDesk reported. Oldenburg added that banks are now preparing to support the trading of tokenized stocks on alternative trading systems. Highlighting the differences between crypto startups and large financial institutions, she pointed out that startup founders often underestimate the complexity of the banking system.