Morgan Stanley Debuts Crypto Trading, Undercuts Rivals on Price

Morgan Stanley is rolling out cryptocurrency trading on its E*Trade platform with a dig at rivals: cheaper pricing.

The Wall Street bank is charging clients 50 basis points on the dollar value of each crypto transaction — undercutting Coinbase Global Inc., the biggest crypto exchange in the US, as well as Robinhood Markets Inc. and Charles Schwab Corp. The offering is in pilot now, with all of E*Trade’s 8.6 million clients set to gain access later this year.