It is reported that Wall Street giant Morgan Stanley has launched a "Digital Assets Laboratory" for testing crypto products.

Bloomberg reported on Tuesday that the bank is using this laboratory to test products such as stablecoins, tokenized assets, and decentralized financial applications.

Morgan Stanley is one of many banks that are further delving into the field of cryptography. This traditional financial giant became the first bank to launch a Bitcoin exchange-traded fund in April.

According to its official website data, the fund – Morgan Stanley Bitcoin Trust – currently manages an asset scale of over 871 million US dollars.

Bloomberg cited an interview with Megan Brewer, the head of market innovation and laboratories for the entire company, stating that this laboratory enables Morgan Stanley to test and explore new areas of digital assets in a "safe, compliant, and isolated environment."

The report also stated that the laboratory team is testing products such as tokenized deposits, central bank digital currencies, and tokenized money market funds.

The report continues to point out that Morgan Stanley has several so-called laboratories for testing new products.

For many years, Morgan Stanley has been increasing its presence in the crypto sector. As early as 2021, the firm began to offer Bitcoin exposure to high-net-worth clients through funds managed by institutions such as Galaxy Digital.

Last year, the bank's CEO and Chairman Ted Pick stated that Morgan Stanley was working with regulatory authorities to study how to provide crypto products in a secure manner.

In April this year, Amy Oldenburg, the person in charge of the digital asset business at that bank, stated that customer education, rather than product design, is the core challenge that Bitcoin faces.

Global large banks are all advancing products based on Bitcoin's underlying technology. These products cover a range of areas including tokenized stocks, stablecoins, as well as Bitcoin custody and trading platforms.