(Reuters) – Morgan Stanley plans to offer trading in derivatives tied to bitcoin, Bloomberg reported on Thursday, citing a person familiar with the matter.
A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson
The bank does not plan to trade bitcoin directly and its swaps are tied to bitcoin futures contracts, the person said.
Morgan Stanley did not immediately respond to a Reuters request for comment.
Last week, Business Insider reported that rival Goldman Sachs Group Inc was ditching plans to open a desk for trading cryptocurrencies, as the regulatory framework for crypto remains unclear.
Reporting by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel