Morgan Stanley’s Crypto Leader Andrew Peel Departs to Establish DeFi Fund in Switzerland

Andrew Peel has resigned from his position as the leader of digital asset markets at Morgan Stanley to establish a cryptocurrency investment and technology company in Zug, Switzerland, as reported on Tuesday.

This new venture aims to develop tokenized funds and trading solutions that integrate traditional finance with decentralized finance.

Peel, who previously worked as a trader at Credit Suisse and joined Morgan Stanley in 2018, officially stepped down in March and intends to begin raising funds shortly.

His departure coincides with Morgan Stanley’s plans to offer retail cryptocurrency trading on E*Trade starting next year, a move that expands its previous offerings beyond the bitcoin fund launched for institutional clients in 2021.

The drive for digital assets on Wall Street is gaining momentum due to changing U.S. policies and increased interest in tokenized financial products from major firms like BlackRock and Franklin Templeton.

A spokesperson for Morgan Stanley opted not to comment on the matter.