Ex-Morgan Stanley Executive Launches Crypto Venture in Zug
Andrew Peel, the former head of Morgan Stanley’s digital asset markets, is leaving the bank to start a new crypto venture. According to Bloomberg, Peel plans to set up shop in Zug, Switzerland, a hub for crypto activities.
Peel joined Morgan Stanley in 2018 after working at credit Suisse. He resigned from his role in March and will also “operate a technology business to develop trading products that help traditional firms bridge the gap into the space as it becomes more regulated.”
Peel’s departure comes as Morgan Stanley prepares to offer crypto trading to retail investors through its E*Trade platform. The service is expected to launch in 2026, making crypto trading available to all 5.2 million retail clients.
peel’s new venture will focus on bridging traditional finance and decentralized finance (DeFi). It will include an asset management vehicle that invests in and issues DeFi assets like tokenized funds. The firm will also develop trading products to help traditional firms enter the crypto space as it becomes more regulated.
Morgan Stanley CEO Ted Pick has expressed interest in working with regulators to define the bank’s role in the crypto market. The bank is also preparing to offer crypto trading to retail investors through its E*Trade platform, expected to launch in 2026.
Peel’s departure comes as Morgan Stanley seeks clarity on its role in the crypto market. The bank aims to work closely with the U.S. Treasury and other regulators to expand its role as a crypto transactor. The bank plans to offer crypto trading to retail investors through its E*Trade platform. the service is expected to go live in 2026, when crypto trading will be available for all of its 5.2 million retail clients.
