Morgan Stanley Wealth Management has launched a service that allows high-net-worth clients to lend cryptocurrencies to Galaxy Digital and receive stakes in spot cryptocurrency exchange-traded products (ETPs).

According to a recent report by The Block, clients can convert bitcoin, ether and solana into ETPs without cashing out. Morgan Stanley said onboarding time can be reduced by as much as 75 percent. Galaxy lowered the minimum transaction amount to $5 million from $25 million, but only for clients introduced by Morgan Stanley.

Alison Nest (앨리슨 네스트), head of investment solutions at Morgan Stanley, said, "This collaboration is an important step forward in bridging traditional finance and decentralized finance." She added, "It provides a streamlined path for more investors to integrate digital assets into their portfolios."

Morgan Stanley has been rapidly expanding its cryptocurrency business recently. Earlier this year it appointed Amy Oldenburg (Amy Oldenburg) as its first head of digital asset strategy and also launched the Morgan Stanley Bitcoin Trust (MMSBT).

It also began a spot cryptocurrency trading pilot in partnership with E-Trade. It also launched the Money Market Fund (MSNXX) as a stablecoin reserve portfolio.