Morgan Stanley takes on crypto trading rivals with E*Trade pilot
The Wall Street bank is charging 50 basis points per crypto trade, below basic retail pricing at Coinbase, Robinhood and Charles Schwab.
Morgan Stanley has rolled out a cryptocurrency trading pilot on its E*Trade platform, charging lower basic retail fees than some of the largest US crypto and brokerage platforms.
The Wall Street bank is charging clients 50 basis points on the dollar value of each crypto transaction, undercutting Coinbase, Robinhood and Charles Schwab on standard retail pricing, according to a Tuesday Bloomberg report.
The offering is currently in pilot mode, with E*Trade’s 8.6 million clients expected to gain access later this year, Bloomberg reported.