According to Bloomberg, Andrew Peel has stepped down from his role as head of the Morgan Stanley (MS) digital asset market and has launched a crypto investment and high-tech company in Zug, Switzerland.
According to Bloomberg, the venture will focus on tokenized funds and trading tools that fill traditional finance and debt.
Peel, a former Credit Suisse trader who joined Morgan Stanley in 2018, will resign in March and start fundraising soon.
His exit is expanding beyond Bitcoin fund access launched for institutions in 2021, according to a report earlier this month, and his exit will come when retail crypto trading is ready for next year's E* trading.
The push of Wall Street digital assets has been accelerating amid a shift in US policy and growing interest in tokenized funding from companies such as BlackRock and Franklin Templeton.
A spokesman for Morgan Stanley declined to comment to Bloomberg.
read more: Morgan Stanley's Eye begins crypto trading through e* trade: Bloomberg
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